Home Industry Finance Fertiglobe set to price Abu Dhabi IPO at top end of price range ADNOC and OCI are offering 13.8 per cent of Fertiglobe in the IPO by Bloomberg October 19, 2021 Fertiglobe Holding’s initial public offering is set to price at the top end of an initial range, raising as much as $830m in what will be Abu Dhabi’s third-largest listing. State-owned Abu Dhabi National Oil, and OCI NV may sell shares in Fertiglobe at Dhs2.65 ($0.72) each, according to terms seen by Bloomberg on Monday. The initial range was set at Dhs2.45 to Dhs2.65 and attracted enough demand to cover the books at the top end on the first day. ADNOC and OCI are offering 13.8 per cent of Fertiglobe in the IPO that comes as the business booms, thanks in part to a natural-gas shortage hurting rivals in Europe. The firm will be valued at $6bn. Fertiglobe’s listing is the latest in a string of Middle Eastern IPOs that have attracted billions in orders. Adnoc’s drilling unit surged on trading debut earlier this month, after raising ($1.1bn) in the emirate’s biggest ever listing. The listing drew orders worth $34bn. In neighbouring Riyadh, ACWA Power International and Saudi Telecom internet-services unit sold shares last month at the top end of their initial range. Offer Highlights: * Fertiglobe IPO books are multiple times oversubscribed: terms * Books to close Oct. 19 * Final pricing expected on Oct. 20 Tags Abu Dhabi ADNOC Fertiglobe finance IPO 0 Comments You might also like AD Ports signs concession deal to operate Egypt’s Safaga terminal Strong cash flows for UAE stocks in Christmas Day trade Institutional investors were hungry for Dubai, Abu Dhabi Stocks in 2023 67 million visitors for Abu Dhabi’s Sheikh Zayed Grand Mosque