Borouge Petrochemical Company said it has successfully completed Building the subscription order book for its initial public offering on the Abu Dhabi Securities Exchangeraising more than two billion dollars.
The company said in a statement, today, Tuesday, that the total demand for the initial public offering exceeded $ 83.4 billion, which means that it witnessed coverage nearly 42 times.
Borouge is scheduled to list its shares on the Abu Dhabi market next Friday, at a time when it announced the amendment of the guaranteed minimum allocation of shares for the first and third tranches stipulated in the prospectus published on May 18.
The company indicated that the guaranteed minimum allocation stipulated in the prospectus will guarantee for each subscriber in the first and third tranches an allocation of at least 1,000 shares, while the minimum guaranteed allocation for the modified allocation will guarantee for each subscriber in the first and third tranches an allocation of 2,040 At least share.
After the listing, the Abu Dhabi National Oil Company “ADNOC” will retain a majority stake of 54% in the company, while the Austrian “Borealis” will own a 36% stake in “Borouge”.
