EMEA News
Yara International Mulls IPO for Ammonia Arm
Norwegian energy firm Yara International may float a minority share in its ammonia arm, Yara Clean Ammonia.
YCA was set up last year to produce and distribute green and blue ammonia.
The initial public offering on the Oslo stock exchange -- if it goes ahead -- would bring in added capital but leave Yara in place as the major YCA shareholder, a statement on the company's website said.
"As the world's largest ammonia distributor – backed by own production assets and logistics infrastructure – Yara and YCA are uniquely positioned to capture value and take a leading position in the clean ammonia market," said Yara president and chief executive Svein Holsether.
According to Yara, YCA's global logistics and infrastructure network has over 20% market share of the merchant ammonia market.
Ammonia is regarded as a potential alternative fuel source for shipping.
