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23 December 2019

UAE's Brooge Petroleum commences trading on Nasdaq

The AED 3.67 billion ($1 billion) deal is expected to be finalised before 1 July 2020.

Bloomberg/Michael Nagle

by Kudakwashe Muzoriwa

UAE-based Brooge Petroleum and Gas Investment Company (BPGIC) has started trading on New York’s Nasdaq Stock Exchange following its merger with US-based Twelve Seas Investment Company.

Brooge Petroleum stated that the move is part of the UAE-based oil storage company’s expansion strategy. BPGIC, which was established in 2013, is one of the largest holders of storage assets in Fujairah.


RELATED STORIES: Brooge Petroleum and Gas Investment Company Nasdaq Stock Exchange



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