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Adanis commit $75 million in Borouge's $2-billion IPO, says report

Seven cornerstone investors have agreed to subscribe for $570 million worth of shares in the IPO

Adani group, adani enterprises
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Julia Fioretti & Paul Wallace | Bloomberg
The Adani family has committed $75 million towards the $2-billion initial public offering of Borouge, set to be the biggest ever listing in the emirate.

Seven cornerstone investors have agreed to subscribe for $570 million worth of shares in the IPO, including the Adani family, Abu Dhabi wealth fund ADQ, which will buy shares worth $120 million, and Alpha Dhabi Holding, which has committed $100 million.

Borouge’s IPO offer price has been set at 2.45 dirhams per share, Abu Dhabi National Oil said in a statement on Monday. Adnoc and Vienna-based Borealis are selling 3 billion shares in Borouge, equating to 10

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First Published: May 24 2022 | 2:28 AM IST

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