The Abu Dhabi Securities Exchange will witness, today, Wednesday, the start of the subscription period for the shares of Fertiglobe, owned by ADNOC and OCIN.
According to a statement to the Stock Exchange today, the subscription process will take place through offering 13.8% of the company's capital, equivalent to 1145.6 million shares.
The offering will be divided into two tranches, one of which is for individuals, 10% of the offered shares, compared to 90% for the second tranche, which is limited to qualified investors.
The period specified for the first tranche expires on October 18, 2021, while it extends for the second tranche until the end of the 19th of the same month.
The share price range was set between 2.45 and 2.65 dirhams, making the market value of the company between 20.2 and 22 billion dirhams.
It is expected that the final price for the offering will be announced next Wednesday, and the shares will start trading in the Abu Dhabi market as of Wednesday, October 27, 2021.
