Fertiglobe’s Proposed IPO

Cleary Gottlieb is representing OCI N.V. and its subsidiary, OCI Fertilizers B.V., as majority shareholder and selling shareholder, in Fertiglobe plc’s (Fertiglobe) proposed IPO on the Abu Dhabi Securities Exchange (ADX).

The IPO consists of a public offering in the UAE and an institutional placement in a number of countries.

The company announced its intention to conduct the IPO on October 5, 2021. The listing of the shares on ADX is expected in late October 2021.

The IPO will involve the first-ever listing of a UAE free zone company on an “onshore” UAE exchange.

Fertiglobe is the largest seaborne exporter of urea and ammonia combined, the Middle East and North Africa’s largest producer of nitrogen fertilizers by production capacity, and an early mover in clean ammonia. Fertiglobe was created in 2019 as a joint venture between OCI, a leading global producer and distributor of nitrogen and methanol products, and ADNOC, the Abu Dhabi National Oil Company. Cleary represented OCI in the creation of this joint venture.