IHC to invest AED183 million as cornerstone investor in Borouge IPO

IHC to invest AED183 million as cornerstone investor in Borouge IPO

WAM: International Holding Company (IHC), announced an investment of AED183 million as cornerstone investor in the Initial Public Offering (IPO) of Borouge plc, on the Abu Dhabi Securities Exchange (ADX). IHC will make this investment at the IPO price and commit to invest across the entire IPO price range, announced this morning.

Syed Basar Shueb, CEO and Managing Director of IHC, said, “IHC is driven to further cement its position as a global player, pursuing high return assets in line with its vigorous diversification strategy. With growth across regional capital markets, namely the petrochemical sector, we are set to capitalise on this as cornerstone investor in Borouge.