the lure of high dividends has been a major draw for global investors amid a recent wave of mega listings across the gulf region dubai united arab emirates petrochemicals business borouge will list on the abu dhabi stock exchange next month marking the latest in a series of mega public offerings across the middle east borouge a joint venture between the abu dhabi national oil company and austrias borealis will sell 3 billion shares in the initial public offering representing a 10 stake no price range was given together with our longstanding partner borealis i am delighted to announce our intention to float a minority stake in borouge sultan al jaber the uaes minister of industry and advanced technology and adnocs managing director and group ceo said in a statement wednesday through borouge and our recently announced 25 equity investment in borealis adnoc is poised to capitalize on the significant industrial and consumerled growth in the petrochemicals sector over the coming decades he added the ipo could raise as much as 2 billion when it lists on the abu dhabi bourse on june 3 according to reports adnoc is expected to own approximately 54 of borouges share capital after the listing while borealis would own approximately 36 borouge has grown into one of the worlds leading petrochemical companies that creates polyolefin solutions since it was established in 1998 supported by our shareholders adnoc and borealis borouge ceo hazeem sultan al suwaidi said in a statement demand for our innovative polyolefin solutions is set to increase in the years ahead driven by our differentiated products and technology commitment to sustainable solutions and operations and robust industry growth trends he added