Company Insights Borouge Petrochemicals Borouge News Banking & Finance Adnoc lines up another unit for Abu Dhabi listing Abu Dhabi National Oil Co (Adnoc) plans to launch an initial public offering of its maritime and logistics unit in June, Reuters reported, in what will be the government-owned conglomerate’s latest flotation of an ancillary business. Adnoc’s part-privatisation drive began in 2017. It has sold minor stakes in subsidiaries Adnoc Drilling, Adnoc Gas, Adnoc Distribution, […] March 24, 2023 Banking & Finance Assets under management at ADGM rise by over 50% Abu Dhabi Global Market saw its assets under management increase by 56 percent year-on-year in 2022 as the authority became the fastest growing international financial centre in the region. Total licence issues for financial and non-financial firms increased by 30 percent from 4,262 companies in 2021 to 5,546 in 2022, according to figures released on […] March 20, 2023 Energy Abu Dhabi’s Borouge to pay $650m in dividends for 2022 Abu Dhabi-listed petrochemicals company Borouge will pay a final dividend of $650 million for 2022. The payout was approved by shareholders at the annual general meeting on Monday and will be distributed in April, state-owned WAM news agency reported. The Abu Dhabi Securities Exchange-listed company has confirmed dividends of $1.3 billion in 2023. Sultan bin […] March 14, 2023 Energy Abu Dhabi’s Adnoc Gas shares up 18% on debut Shares of Adnoc Gas rose 18 percent above its listings price, as the state-backed oil giant made its debut on the Abu Dhabi stock market on Monday. The energy firm’s shares traded at AED2.8 ($0.7625), versus its initial public offering (IPO) price of AED2.37, according to Reuters. Adnoc raised $2.5 billion from the listing of […] March 13, 2023 Energy Adnoc Gas completes record-breaking $2.5bn ADX IPO Adnoc has raised $2.5 billion from the initial public offering of its gas business, recording the largest ever listing on the Abu Dhabi Securities Exchange. Five percent of the company, or around 3.84 billion shares, were sold at AED2.37 ($0.64) per share, in the upper half of a range that began at AED2.25, according to […] March 3, 2023 Energy Adnoc Gas IPO tipped to break record for Abu Dhabi exchange Adnoc’s listing of its gas business could take place as soon as this month – and become the largest IPO on the Abu Dhabi Securities Exchange, according to reports. The state-owned oil giant is looking at a valuation of at least $50 billion for Adnoc Gas, two sources close to the matter have told Reuters. […] February 3, 2023 Energy Borouge secures two new $15m contracts from UAE firms Abu Dhabi-listed petrochemicals major Borouge has secured two new contracts worth AED55 million ($15 million) to supply polyolefins to Ducab and Union Pipes Industry (UPI), the company said in a statement. Both companies will use Borouge materials to produce energy and infrastructure applications to construct Borouge 4. Ducab, a UAE-based energy solution provider and industrial […] January 11, 2023 Energy UAE’s Adnoc acquires 24.9% stake in Austrian chemicals group State oil major Abu Dhabi National Oil Company (Adnoc) will acquire a 24.9 percent stake in Austria-based global energy and chemicals group OMV AG (OMV) from Mubadala Investment Company (Mubadala). The transaction will increase Adnoc’s shareholdings in both Borealis and Borouge, expanding its footprint in the chemicals sector. OMV holds a 75 percent stake in […] December 22, 2022 Tech IPO juggernaut Bayanat eyes driverless vehicle acquisitions Abu Dhabi’s geospatial and data analytics firm Bayanat AI Plc expects its next wave of growth to come from the driverless vehicles segment and is in the market for potential acquisitions. The company this week recorded the best first-day performance of any global stock market listing of at least $100 million this year. It nearly […] November 3, 2022 Energy Abu Dhabi’s Borouge revenue rises 13.5% to $5.13bn Abu Dhabi-based petrochemicals major Borouge Plc announced a 13.5 percent increase year-on-year in revenue to $5.13 billion for the nine months of 2022. The increase in revenue over the nine months was driven by an 11.9 percent increase in total sales volumes, with polypropylene (PP) volumes up 14.7 percent, UAE state-owned news agency WAM reported. […] October 30, 2022 Posts navigation Previous 1 … 4 5 6 Next
Banking & Finance Adnoc lines up another unit for Abu Dhabi listing Abu Dhabi National Oil Co (Adnoc) plans to launch an initial public offering of its maritime and logistics unit in June, Reuters reported, in what will be the government-owned conglomerate’s latest flotation of an ancillary business. Adnoc’s part-privatisation drive began in 2017. It has sold minor stakes in subsidiaries Adnoc Drilling, Adnoc Gas, Adnoc Distribution, […] March 24, 2023
Banking & Finance Assets under management at ADGM rise by over 50% Abu Dhabi Global Market saw its assets under management increase by 56 percent year-on-year in 2022 as the authority became the fastest growing international financial centre in the region. Total licence issues for financial and non-financial firms increased by 30 percent from 4,262 companies in 2021 to 5,546 in 2022, according to figures released on […] March 20, 2023
Energy Abu Dhabi’s Borouge to pay $650m in dividends for 2022 Abu Dhabi-listed petrochemicals company Borouge will pay a final dividend of $650 million for 2022. The payout was approved by shareholders at the annual general meeting on Monday and will be distributed in April, state-owned WAM news agency reported. The Abu Dhabi Securities Exchange-listed company has confirmed dividends of $1.3 billion in 2023. Sultan bin […] March 14, 2023
Energy Abu Dhabi’s Adnoc Gas shares up 18% on debut Shares of Adnoc Gas rose 18 percent above its listings price, as the state-backed oil giant made its debut on the Abu Dhabi stock market on Monday. The energy firm’s shares traded at AED2.8 ($0.7625), versus its initial public offering (IPO) price of AED2.37, according to Reuters. Adnoc raised $2.5 billion from the listing of […] March 13, 2023
Energy Adnoc Gas completes record-breaking $2.5bn ADX IPO Adnoc has raised $2.5 billion from the initial public offering of its gas business, recording the largest ever listing on the Abu Dhabi Securities Exchange. Five percent of the company, or around 3.84 billion shares, were sold at AED2.37 ($0.64) per share, in the upper half of a range that began at AED2.25, according to […] March 3, 2023
Energy Adnoc Gas IPO tipped to break record for Abu Dhabi exchange Adnoc’s listing of its gas business could take place as soon as this month – and become the largest IPO on the Abu Dhabi Securities Exchange, according to reports. The state-owned oil giant is looking at a valuation of at least $50 billion for Adnoc Gas, two sources close to the matter have told Reuters. […] February 3, 2023
Energy Borouge secures two new $15m contracts from UAE firms Abu Dhabi-listed petrochemicals major Borouge has secured two new contracts worth AED55 million ($15 million) to supply polyolefins to Ducab and Union Pipes Industry (UPI), the company said in a statement. Both companies will use Borouge materials to produce energy and infrastructure applications to construct Borouge 4. Ducab, a UAE-based energy solution provider and industrial […] January 11, 2023
Energy UAE’s Adnoc acquires 24.9% stake in Austrian chemicals group State oil major Abu Dhabi National Oil Company (Adnoc) will acquire a 24.9 percent stake in Austria-based global energy and chemicals group OMV AG (OMV) from Mubadala Investment Company (Mubadala). The transaction will increase Adnoc’s shareholdings in both Borealis and Borouge, expanding its footprint in the chemicals sector. OMV holds a 75 percent stake in […] December 22, 2022
Tech IPO juggernaut Bayanat eyes driverless vehicle acquisitions Abu Dhabi’s geospatial and data analytics firm Bayanat AI Plc expects its next wave of growth to come from the driverless vehicles segment and is in the market for potential acquisitions. The company this week recorded the best first-day performance of any global stock market listing of at least $100 million this year. It nearly […] November 3, 2022
Energy Abu Dhabi’s Borouge revenue rises 13.5% to $5.13bn Abu Dhabi-based petrochemicals major Borouge Plc announced a 13.5 percent increase year-on-year in revenue to $5.13 billion for the nine months of 2022. The increase in revenue over the nine months was driven by an 11.9 percent increase in total sales volumes, with polypropylene (PP) volumes up 14.7 percent, UAE state-owned news agency WAM reported. […] October 30, 2022
