Abu Dhabi, United Arab Emirates: Abu Dhabi Global Market (ADGM) is proud to welcome today the successful initial public offering (IPO) of Fertiglobe plc (Fertiglobe), a public company registered with ADGM, on the Abu Dhabi Securities Exchange (ADX). Fertiglobe is the first free zone and ADGM company to be listed and traded on an onshore stock exchange in the United Arab Emirates. Additionally, raising more than $ 795 million, Fertiglobe’s IPO is the third-highest ever listing on the ADX.
Joint venture between Abu Dhabi National Oil Company (ADNOC) and OCI NV (OCI), listed on Euronext, Fertiglobe is the world’s largest maritime exporter of combined urea and ammonia, the largest producer of nitrogenous fertilizers in the MENA region in terms of production capacity, and a precursor in clean ammonia.
Commenting on the successful listing of Fertiglobe, His Excellency Ahmed Jasim Al Zaabi, President of ADGM said: This IPO is a tangible vote of confidence from the global investor community in ADGM and underlines our primary role as an international financial center renowned brand, which acts as a catalyst for further growth and development of the local financial services industry for the benefit of Abu Dhabi and the United Arab Emirates, in accordance with the “United Arab Emirates Principles of 50”.
“Fertiglobe’s IPO strengthens Abu Dhabi and ADGM’s growing position as a key global business and financial center. We welcome and look forward to actively supporting world-class companies in all industries, to benefit from ADGM’s business-friendly regulatory environment, robust common law legal framework, class-leading business infrastructure. global and its agile and innovative platform.
Fertiglobe is part of ADGM’s rapidly growing community of over 3,600 registered entities, including some of the world’s and region’s leading local and international banks, financial institutions, investment firms, fund management companies , treasury centers, corporations, energy companies, tech companies, tech start-ups, business and professional services and more.
About Abu Dhabi Global Market
The Abu Dhabi Global Market (ADGM), an international financial center (IFC) located in the capital of the United Arab Emirates, opened on October 21, 2015. Established by federal decree of the United Arab Emirates as a financial center broad-based ADGM increases Abu Dhabi’s position as a global trade and business hub serving as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored in Abu Dhabi’s main strengths in the areas of private banking, wealth management, asset management, derivatives and commodities trading, innovation financial, sustainability, etc. Comprised of four independent authorities: ADGM Authority, ADGM Courts, Financial Services Regulatory Authority and Registration Authority, ADGM as IFC governs the entire 114 hectares (1.14 km²) of Al Maryah Island, which is a designated free financial zone.
It enables registered financial and non-financial institutions, businesses and entities to operate, innovate and succeed within an international regulatory framework based on common law. Since its inception, ADGM has received the “Financial Center of the Year (MENA)” award for four consecutive years for its initiatives and contributions to the financial and capital markets industry in the region. *
For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)
* Source: The Global Investor Middle East and North Africa (MENA) Awards
© Press release 2021