Alpha Dhabi Holding has made an AED367 million ($99 million) investment into Borouge’s Initial Public Offering (IPO).
Alpha Dhabi’s investment comes as the company continues to scale its highly diversified portfolio through recent acquisitions and investments in Alpha Wave Ventures II Fund, Wio Bank and DEWA’s recent IPO, the firm said.
This investment in Borouge supports the investment criteria from both a company profile and a sector perspective by adding further weight to the petrochemical vertical, which remains a key target sector for Alpha Dhabi.
Hamad Al Ameri, CEO of Alpha Dhabi Holding, said, “Over the last couple of years, we have seen a significant development of Abu Dhabi capital markets and its ecosystem, which have become increasingly mature, dynamic and liquid. Alpha Dhabi’s investment in Borouge’s IPO is another example of our continued support in the ongoing development of regional capital markets. These types of investments continue to be a core focus for Alpha Dhabi as we grow our platform and portfolio, and we are proud to be a cornerstone investor in Borouge’s IPO.”