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Adanis commit $75-M in Abu Dhabi petrochem player Borouge's $2-B IPO

Business Standard  

The Adani Group has committed USD 75 million towards the USD 2 Billion initial public offering of Abu Dhabi-based petrochem firm Borouge, set to be the biggest ever listing in the UAE (at an equity valuation of just over USD 20 Billion). Seven investors have agreed to subscribe to USD 570 million worth of shares in the IPO, including the Adanis, Abu Dhabi wealth fund ADQ (which will buy shares worth USD 120 million), and Alpha Dhabi Holding (which has committed USD 100 million).

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