Affiliate of Abu Dhabi oil company to list on stock exchange

Borouge is ADNOC’s joint venture with Austrian petrochemical firm Borealis AG.

Adam Lucente
Adam Lucente
ADNOC headquarters (Abu Dhabi National Oil Company) office complex (C).
A general view taken on May 29, 2019, shows the seafront promenade in the Emirati capital, Abu Dhabi, with the ADNOC headquarters (Abu Dhabi National Oil Company) office complex (C) in the foreground. — KARIM SAHIB/AFP via Getty Images

The Abu Dhabi National Oil Company (ADNOC) announced today that one of its affiliates will soon list on the Abu Dhabi stock exchange. 

Borouge is ADNOC’s joint venture with the Austrian petrochemical firm Borealis AG. ADNOC and Borealis will float 10% of Borouge on the Abu Dhabi Securities Exchange, ADNOC said in a tweet. 

The move was motivated by “the growth of the UAE’s capital market and economic diversification,” per the tweet. 

The official Emirates News Agency reported that the stock offering is “expected” to be available on May 23. 

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