ABU DHABI, 23rd May, 2022 (WAM) -- International Holding Company (IHC), announced today 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.
"This investment directly aligns to our company ongoing focus in innovative clean-energy companies with resolute ESG principles that target the challenges of plastic waste recycling and generate long-term sustainability. IHC remains steadfast in developing a fully integrated, multi-sector portfolio to achieve its long-term objectives of high growth and high returns for shareholders."