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Posted inCapital markets, IPO, UAE

Borouge joins top FTSE Russel indices following Abu Dhabi’s biggest IPO

Borouge’s IPO on ADX raised more than $2 billion earlier this month

By Staff Writer
Borouge
Borouge 3 petrochemical plant in the Ruwais refinery and petrochemical complex, operated by Abu Dhabi National Oil Co. (ADNOC). Image: Bloomberg

Petrochemical company Borouge has joined three world-renowned indices by FTSE Russell, after staging Abu Dhabi’s biggest listing earlier this month.

The ADX-listed firm has been included in FTSE Russell’s FTSE Global Equity Index Series which includes FTSE Emerging Index, FTSE Global Large Cap Index and FTSE All-World Index.

These indices are used by investors globally to inform asset allocation decisions and support portfolio construction.

Earlier this month, ADNOC and Borealis have completed Borouge’s listing of 10 percent of its total issued share capital on the Abu Dhabi Securities Exchange.

The transaction raised more than $2 billion, becoming the largest-ever IPO in Abu Dhabi.

Borouge provides polyolefin solutions for crucial industries such as energy, agriculture, and healthcare.

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Abdul Rawuf

Abdul Rawuf