YARA INTERNATIONAL ASA By Dominic Chopping
Yara International ASA said Wednesday that it is evaluating a potential initial public offering for its Yara Clean Ammonia business on the Oslo Stock Exchange.
"The evaluation of a potential future listing is focused on attracting minority investors and reflects Yara's strategic ambition to enable the hydrogen economy," the Norwegian fertilizer producer said.
Yara Clean Ammonia was established as a separate business unit in February 2021 to focus on producing clean ammonia to be used as an emission-free fuel for shipping and power, carbon-free food production and industrial applications.
Clean ammonia comprises both blue and green ammonia. Blue ammonia is derived from blue hydrogen, produced based on natural gas with the CO2 stored in permanent reservoirs after a carbon capture and storage process. Green ammonia is produced carbon-free by using green hydrogen.
Yara Clean Ammonia operates an ammonia network with 12 ships and has access to 18 ammonia terminals and multiple ammonia production and consumption sites across the world, the company said.
Yara will remain a majority owner in Yara Clean Ammonia should it list.
ABG Sundal Collier and J.P. Morgan have been retained to advise on the evaluation of a potential IPO.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
05-04-22 0530ET
