Shares of Abu Dhabi-based petrochemicals company Borouge Plc, which listed on the Abu Dhabi Securities Exchange (ADX) on Friday, rose to 2.90 dirhams on open compared with its issue price of 2.45 dirhams.

The company, which is jointly owned by Abu Dhabi National Oil Company and Austria's Borealis, raised more than $2 billion in a 10 percent stake sale that was hugely oversubscribed.

(Writing by Brinda Darasha; editing by Seban Scaria)