intends UAE ADNOC Company and Borealis, Inc., raised regarding $2 billion from an initial public offering of a 10 percent stake in their Borouge plastics joint venture, sources told Bloomberg.
Borouge is valued at regarding $20 billion.
According to the sources, the initial public offering may be announced as early as next month, knowing that Borealis is owned by the Austrian refiner OMV and the UAE’s Mubadala Investment Company.
