Abu Dhabi’s national oil company ADNOC’s IPO strategy seems to be well-timed. After the multi-billion dollar IPO of its drilling unit, ADNOC Drilling, the company is now aiming to repeat this success with its fertilizer JV Fertiglobe. Fertiglobe has raised $795 million in its initial public offering (IPO), making it the third largest offering on the Abu Dhabi Securities Exchange.
This week, the company has stated that at the end of the book-building process, the final offer price has been set at 2.55 dirhams ($0.69), somewhere at the…What ADNOC’s IPO Successes Mean For Middle East Oil
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