Mideast fertilizer firm Fertiglobe raises $800 million in IPO backed by Singapore
Published 20 Oct 2021 via Bloomberg Markets–Abu Dhabi’s state energy company and OCI NV raised $795 million by listing their Middle Eastern fertilizer venture, drawing around $17 billion of orders and attracting investors including a Singapore sovereign wealth fund and U.S. activist investor Jeff Ubben.
Fertiglobe Holding shares were sold at 2.55 dirhams each, the middle of the price range, Abu Dhabi National Oil Co. and Amsterdam-based OCI said on Wednesday. The company will be valued at $5.8 billion and the stock will start trading in Abu Dhabi on Oct. 27.
Singapore’s GIC Pte and Ubben’s Inclusive Capital Partners had committed $150 million between them before the final terms were announced. Just under 14% of Fertiglobe will be listed.
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