Oslo-based Yara International ASA this week said it is evaluating a potential initial public offering (IPO) of its Yara Clean Ammonia business (YCA) on the Oslo Stock Exchange. YCA was established as a separate segment and business unit in February 2021 to focus on green and blue ammonia (GM Feb. 12, 2021). The business sourced, transported, and sold more than 4 million mt of ammonia in 2021.
As a preparatory step in the event of a potential future IPO, Yara said it will initiate an internal process to organize YCA assets, contracts, etc., into dedicated YCA entities/subsidiaries that, for now, will remain under Yara’s ownership.
“Consistent with Yara’s ownership approach, the evaluation of a potential future listing is focused on attracting minority investors and reflects Yara’s strategic ambition to enable the hydrogen economy, where clean ammonia will play a crucial role within zero-emission shipping fuels, power generation, green fertilizer production, and other industrial applications,” the company said.
ABG Sundal Collier and J.P. Morgan have been retained by Yara to advise on the evaluation of a potential IPO of YCA.