Abu Dhabi National Oil Company (ADNOC) and OCI N.V. (ENXTAM:OCI) are weighing an initial public offering of their fertiliser joint venture Fertiglobe Holding Ltd, two sources familiar with the matter said. ADNOC and OCI invited international and local banks to pitch for potential roles in Fertiglobe's public share-sale, said the sources, declining to be named because the matter is not public. The firms submitted bids last week for the deal, which could raise at least $1 billion, they said.

ADNOC declined to comment when contacted by Reuters on April 12, 2021. OCI and Fertiglobe did not immediately respond to requests for comment.