Posted: October 27, 2021 at 12:46 p.m. EDT|Update: 1 hour ago
ABU DHABI, United Arab Emirates, October 27, 2021 / PRNewswire / – Abu Dhabi Global Market (ADGM) is proud to today welcome the successful Initial Public Offering (IPO) of Fertiglobe plc (Fertiglobe), a public company registered with ADGM , at the Abu Dhabi Securities Exchange (ADX). Fertiglobe is the first free zone and ADGM company to be listed and traded on an onshore stock exchange in the United Arab Emirates. In addition, raising more than $ 795 million, the IPO of Fertiglobe is the third largest listing ever on the ADX.
Joint venture between Abu Dhabi National Oil Company (ADNOC) and OCI NV (OCI), listed on Euronext, Fertiglobe is the world’s largest maritime exporter of combined urea and ammonia, the largest producer of nitrogenous fertilizers in the MENA region in terms of production capacity, and a precursor in clean ammonia.
Today’s registration marks an important step in strengthening ADGM’s position as Abu Dhabi and the region’s leading international financial center.
Commenting on the success of the Fertiglobe listing, His Excellency Ahmed Jasim Al Zaabi, President of ADGM said: “ADGM congratulates Fertiglobe on its successful ADX listing, in turn becoming the first UAE-based free zone company to join the onshore securities market. This IPO is a tangible vote of confidence from the global investment community in ADGM and underlines our leading role as a renowned international financial center, which acts as a catalyst to further the growth and development of the local financial services industry for the benefit of Abu Dhabi and the United Arab Emirates, in accordance with the “United Arab Emirates Principles of the 50”.
“The IPO of Fertiglobe strengthens Abu Dhabi and ADGM’s growing position as a global business hub and financial center. We welcome and look forward to actively supporting world-class companies in all industries, to benefit from ADGM’s business-friendly regulatory environment, strong common law legal framework, class-leading business infrastructure. global and its agile and innovative platform. ”
Fertiglobe is part of ADGM’s rapidly growing community of over 3,600 registered entities, including some of the world’s and region’s leading local and international banks, financial institutions, investment firms, fund management companies , treasury centers, corporations, energy companies, tech companies, tech start-ups, business and professional services and more.
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