Adnoc and OCI mull IPO for fertilizer partnership Fertiglobe

LONDON (ICIS)–Dutch fertilizer group OCI and UAE energy giant Adnoc late on Monday confirmed they are considering an initial public offering (IPO) of nitrogen partnership Fertiglobe.

In a brief statement, the pair said the Abu Dhabi-headquartered business could undergo an IPO, with any “further material information communicated at the appropriate time”.

Fertiglobe’s production assets comprise ammonia and urea plants operated by Egypt Basic Industries Corporation (EBIC) and Egyptian Fertilizer Company (EFC in Egypt), Fertil in the UAE, and Sorfert in Algeria.

Fertiglobe is a partnership between OCI and Adnoc, with respective ownership stakes of 58% and 42%.

According to OCI, Fertiglobe “is underpinned by a young asset base and a robust storage and distribution infrastructure with access to key ports on the Mediterranean, Red Sea and Arabian Gulf”.