ADNOC will become the majority shareholder in Fertiglobe, increasing its shareholding to 86.2 per cent, with 13.8 per cent remaining in free float on ADX
The two entities agreed to leverage AD Ports’ cargo handling and storage infrastructure to advance urea and ammonia storage and shipping capabilities
ADNOC sold 1.41 billion shares in its maritime logistics unit at Dhs2.01 a share, valuing the company at $4.05bn
The company’s Q3 2022 revenues increased 52 per cent year-on-year to total $1.32bn
From October 6, stock futures on Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Fertiglobe, Borouge and AD Ports will be available for trading on the derivatives market
The fertiliser company, a joint venture between ADNOC and OCI, reported that its free cash flow increased to $789m in Q2 2022 from $328m in Q2 2021
The company, a joint partnership between Abu Dhabi’s ADNOC and the Netherlands-based OCI, reported a revenue rise of 113 per cent to $3.31bn in 2021
The three companies will study the development, design, financing, operation, and maintenance of an industrial-scale facility in Al Ruwais, Abu Dhabi
The company reported revenue of $1.55bn in 2020 and $1.26bn for the first six months of 2021
The company will be valued at $5.8bn and the stock will start trading in Abu Dhabi on October 27
ADNOC and OCI are offering 13.8 per cent of Fertiglobe in the IPO
The facility which will likely be operational by 2025, will have a capacity of up to 1 million tons per annum
The company could be valued at about $7bn including debt in the listing
Deliberations on the potential listings are ongoing and no final decisions have been made