Borouge's initial public offering exceeded 150 billion dirhams, with 21 times oversubscription by the end of the third day of the offering.
The subscription is still open for individual investors until May 28, and until May 30 for institutional investors, according to Al Arabiya.
Borouge had set the offer price for the initial public offering, which appears to be raising about $2 billion, or 7.35 billion dirhams, in the deal, which secured 7 key investors. .
The company set, in a statement, the initial public offering price at 2.45 dirhams ($0.67) per share, which means that the company's market value is $20 billion, noting that it obtained On a total commitment of about 570 million.
And last Monday, the subscription period for the company's shares began by offering 10% of its capital, equivalent to 3 billion shares of its shares, divided into three segments, one of which is for individuals. 10% of the offered shares, compared to 88% for professional investors, and 2% for employees of the ADNOC, Borealis, ADP and PTE group companies residing in the UAE.
