Borouge, the joint venture between Adnoc and Austrian chemicals producer Borealis, has been added to the FTSE Global Equity Index Series after its listing on the Abu Dhabi Securities Exchange earlier this month.
The inclusion by FTSE Russell in the FTSE Emerging Index, the FTSE Global Large Cap Index and the FTSE All-World Index came into effect on June 10, the company said on Monday.
"Joining these key indices marks a major recognition of Borouge and underlines the company’s relevance to the global institutional investor base that participated in its recent initial public offering," Borouge said.
The inclusion comes after Borouge made its debut on the ADX on June 3, when it successfully closed its $2 billion listing. The IPO, which was about 42 times oversubscribed, was the largest in Abu Dhabi since Adnoc Drilling’s $1.1bn offering.
Inclusion into the FTSE Global Equity Index Series indicates a company's strength and could push Borouge's stock price higher.
The FTSE Global Equity Index Series is a part of the FTSE Russell and provides benchmarking, analytics and data solutions to investors globally.
The FTSE Global Equity Index Series is a global equity index framework that includes more than 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets.
It has a wide range of indexes available for investors, allowing them to focus on specific markets and market segments.
Established in 1998, Borouge is one of the world’s biggest providers of polyolefin for the infrastructure, energy, agriculture, mobility, healthcare and advanced packaging industries.
The company employs more than 3,100 people and serves customers in more than 50 countries across Asia, the Middle East and Africa.
Last week, Abu Dhabi's Multiply Group, a technology-focused investment holding company, was added to the FTSE Global Equity Index Series' Mid Cap Index.
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Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
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List of officials:
Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.
Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.
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