UAE's Brooge Petroleum to start trading on Nasdaq on Monday - Reuters:
UAE-based Brooge Petroleum and Gas Investment Co (BPGIC) said it will start trading on New York’s Nasdaq stock exchange on Monday, following its merger with U.S. company Twelve Seas Investment Co.
Oil storage company BPGIC completed the merger on Friday, it said in a statement on Sunday, and its valuation now exceeds $1 billion.
The merger and listing were aimed at establishing a global presence with access to liquid markets that could support the company’s expansion plans, BPGIC said.
BPGIC, which was set up in 2013, is one of the largest holders of oil storage assets in Fujairah.
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