Borealis AG (Borealis) and Abu Dhabi National Oil Company (ADNOC) are considering a potential initial public offering (IPO) of a minority stake in their joint venture Borouge. Headquartered in Abu Dhabi, Borouge is a leading provider of innovative, value creating plastics solutions.
Borealis and ADNOC will provide further material updates as and when appropriate.
- Borouge consists of Borouge ADP (Production company) and Borouge Pte (Sales and Marketing company).
- ADNOC holds 60% in Borouge ADP, with Borealis holding 40%. Both companies have a 50% shareholding in Borouge Pte.