Company Insights Abu Dhabi Securities Exchange Markets Abu Dhabi Securities Exchange News Petrochemicals Adnoc and OMV seal deal for $60bn chemicals JV Abu Dhabi National Oil Company (Adnoc) and Austria’s energy group OMV have agreed to merge their polyolefin operations to form a $60 billion joint venture. Borouge Group International (BGI) will be the world’s fourth largest by nameplate production capacity, the UAE company said. BGI will acquire Canada-headquartered Nova Chemicals Corporation from Abu Dhabi’s sovereign wealth fund […] March 4, 2025 Giga-projects Billionaire calls for review of Egyptian mega-projects Egyptian billionaire Naguib Sawiris said his country’s mega-projects should be reconsidered to save money as they require a lot of foreign currency. “I will be polite and I would say we have an overambitious president who is doing mega projects that are requiring a lot of foreign currency and we should have a second look […] February 27, 2025 Oil & Gas Oversubscribed Adnoc Gas listing raises almost $3bn Abu Dhabi state oil company Adnoc has completed a secondary offering of its gas business unit, raising $2.84 billion, in the largest-ever placement of shares on the Abu Dhabi stock exchange ADX. The company said in a statement on Friday the sale of approximately 3.1 billion Adnoc Gas shares was 4.4 times oversubscribed. Adnoc announced […] February 21, 2025 Logistics Turkey says talks with Abu Dhabi fail on port deal The Turkish government has confirmed that talks with Abu Dhabi Ports Group (AD Ports) over operating rights at the Alsancak freight and passenger port in Western Turkey have failed. “The aim there was to get a partner for the Alsancak port and adding capital to expand it,” Turkish transport minister Abdulkadir Uraloglu told Bloomberg. No […] February 21, 2025 Oil & Gas Adnoc to sell 4% of its gas unit to raise up to $3bn Abu Dhabi National Oil Company is to offer approximately 3.1 billion shares in its subsidiary Adnoc Gas, in what will be the biggest share sale in the Middle East and North Africa since Saudi Aramco’s offering last June. The sale will represent 4 percent of Adnoc’s outstanding share capital and Reuters estimates that it could […] February 20, 2025 Markets More dual listings expected as IPO trend continues Last year, eight companies launched initial public offerings (IPO) on the two main stock exchanges in the UAE, attracting more than $7 billion in investment. The same number could float this year and list in neighbouring Saudi Arabia, analysts say. UAE-based technology company Alpha Data has already announced plans to list 40 percent of its […] February 20, 2025 Leisure & Hospitality Agthia’s stake in Egyptian snack group rises to 80% Agthia Group, a UAE-headquartered food and beverage company, has acquired an additional 10 percent stake in Abu Auf, an Egyptian healthy snacks retailer, increasing its ownership to 80 percent. The Auf family will continue to lead the business, the company said in a statement to the Abu Dhabi Securities Exchange. Financial terms of the deal […] February 20, 2025 Health NMC confirms no buyers so far have matched valuation The UAE’s troubled hospital operator NMC Healthcare confirmed that it has no buyers yet for the company, with differences around valuation cited as one of the reasons. Earlier this week, two people familiar with discussions around a possible sale said that Abu Dhabi-based PureHealth Holding, the UAE’s biggest healthcare group by number of facilities, had […] February 13, 2025 Energy Taqa’s capex rises 60% amid new projects Capital expenditure of Abu Dhabi National Energy Company (Taqa) rose by nearly two-thirds to more than AED9 billion ($2.5 billion) in 2024 due to the construction of new projects in the UAE. The spend was primarily focused on the Mirfa 2 and Shuweihat 4 reverse osmosis desalination projects, the company said in a filing to […] February 13, 2025 Markets Alpha Data to sell 40% stake in IPO on Abu Dhabi bourse A 44-year-old UAE-based technology company, Alpha Data, is to list 40 percent of its capital, or 400 million shares, on the Abu Dhabi Securities Exchange (ADX), the company has said. Alpha Data’s initial public offering (IPO) subscription will run from February 20 to 25 for UAE retail and professional investors. The offer price will be […] February 13, 2025 Posts navigation Previous 1 2 3 … 9 Next
Petrochemicals Adnoc and OMV seal deal for $60bn chemicals JV Abu Dhabi National Oil Company (Adnoc) and Austria’s energy group OMV have agreed to merge their polyolefin operations to form a $60 billion joint venture. Borouge Group International (BGI) will be the world’s fourth largest by nameplate production capacity, the UAE company said. BGI will acquire Canada-headquartered Nova Chemicals Corporation from Abu Dhabi’s sovereign wealth fund […] March 4, 2025
Giga-projects Billionaire calls for review of Egyptian mega-projects Egyptian billionaire Naguib Sawiris said his country’s mega-projects should be reconsidered to save money as they require a lot of foreign currency. “I will be polite and I would say we have an overambitious president who is doing mega projects that are requiring a lot of foreign currency and we should have a second look […] February 27, 2025
Oil & Gas Oversubscribed Adnoc Gas listing raises almost $3bn Abu Dhabi state oil company Adnoc has completed a secondary offering of its gas business unit, raising $2.84 billion, in the largest-ever placement of shares on the Abu Dhabi stock exchange ADX. The company said in a statement on Friday the sale of approximately 3.1 billion Adnoc Gas shares was 4.4 times oversubscribed. Adnoc announced […] February 21, 2025
Logistics Turkey says talks with Abu Dhabi fail on port deal The Turkish government has confirmed that talks with Abu Dhabi Ports Group (AD Ports) over operating rights at the Alsancak freight and passenger port in Western Turkey have failed. “The aim there was to get a partner for the Alsancak port and adding capital to expand it,” Turkish transport minister Abdulkadir Uraloglu told Bloomberg. No […] February 21, 2025
Oil & Gas Adnoc to sell 4% of its gas unit to raise up to $3bn Abu Dhabi National Oil Company is to offer approximately 3.1 billion shares in its subsidiary Adnoc Gas, in what will be the biggest share sale in the Middle East and North Africa since Saudi Aramco’s offering last June. The sale will represent 4 percent of Adnoc’s outstanding share capital and Reuters estimates that it could […] February 20, 2025
Markets More dual listings expected as IPO trend continues Last year, eight companies launched initial public offerings (IPO) on the two main stock exchanges in the UAE, attracting more than $7 billion in investment. The same number could float this year and list in neighbouring Saudi Arabia, analysts say. UAE-based technology company Alpha Data has already announced plans to list 40 percent of its […] February 20, 2025
Leisure & Hospitality Agthia’s stake in Egyptian snack group rises to 80% Agthia Group, a UAE-headquartered food and beverage company, has acquired an additional 10 percent stake in Abu Auf, an Egyptian healthy snacks retailer, increasing its ownership to 80 percent. The Auf family will continue to lead the business, the company said in a statement to the Abu Dhabi Securities Exchange. Financial terms of the deal […] February 20, 2025
Health NMC confirms no buyers so far have matched valuation The UAE’s troubled hospital operator NMC Healthcare confirmed that it has no buyers yet for the company, with differences around valuation cited as one of the reasons. Earlier this week, two people familiar with discussions around a possible sale said that Abu Dhabi-based PureHealth Holding, the UAE’s biggest healthcare group by number of facilities, had […] February 13, 2025
Energy Taqa’s capex rises 60% amid new projects Capital expenditure of Abu Dhabi National Energy Company (Taqa) rose by nearly two-thirds to more than AED9 billion ($2.5 billion) in 2024 due to the construction of new projects in the UAE. The spend was primarily focused on the Mirfa 2 and Shuweihat 4 reverse osmosis desalination projects, the company said in a filing to […] February 13, 2025
Markets Alpha Data to sell 40% stake in IPO on Abu Dhabi bourse A 44-year-old UAE-based technology company, Alpha Data, is to list 40 percent of its capital, or 400 million shares, on the Abu Dhabi Securities Exchange (ADX), the company has said. Alpha Data’s initial public offering (IPO) subscription will run from February 20 to 25 for UAE retail and professional investors. The offer price will be […] February 13, 2025
