Abu Dhabi - Mubasher: Borouge, an Abu Dhabi-based petrochemicals company, has completed its listing on the Abu Dhabi Securities Exchange (ADX).
The Abu Dhabi Global Market (ADGM)-registered Borouge became the largest listing to date on ADX, reflecting the growing demands of investors for UAE companies, according to a recent press release.
The company's offering recorded the highest subscription level by UAE retail investors in any IPO launched in the UAE and significant demand from local and international institutional investors, resulting in an oversubscription of 42 times.
The Chairman of Abu Dhabi Global Market (ADGM), Ahmed Jasim Al Zaabi, said: "As Abu Dhabi’s International Financial Centre, we’re seeing a significant increase in companies registering in ADGM and exploring listings in the UAE to capitalise on the strong local and international investor demand for the UAE’s national champions."
