Yara considers stock market listing for clean ammonia business

Written by Aisling O'Brien from Agriland

Yara International ASA has today (Wednesday, May 4) announced that it is considering listing its clean ammonia business on the stock market.

The company has retained the services of investment firms ABG Sundal Collier and J.P. Morgan to evaluate a potential initial public offering (IPO) of Yara Clean Ammonia (YCA) on the Oslo Stock Exchange.

The evaluation is focused on attracting minority investors in YCA which was established as a separate business unit in February 2021.

The move reflects the Norwegian-based company's strategic ambition to "enable the hydrogen economy".

Yara believes that clean ammonia will play a crucial role in zero-emission shipping fuel, power generation, green fertiliser production and other industrial applications.

As part of the evaluation process, YCA assets and contracts will be organised into dedicated entities and subsidiaries that, for now, will remain under Yara’s ownership.

The company said that potential IPO would raise capital to accelerate the growth of YCA, better realise the value of the business and support increased management focus.

Yara Yara CEO Svein Tore Holsether
Yara CEO Svein Tore Holsether. Image Source: Yara

Commenting on today's announcement, Svein Tore Holsether, CEO and president of Yara said:

“The decision to evaluate a potential IPO of Yara Clean Ammonia represents a natural next step as Yara executes its strategy to broaden its business model.

"YCA remains core to Yara’s strategy and Yara will continue to provide long-term backing to YCA as its majority owner and preferred partner.

“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," he said.

YCA sourced, transported and sold more than 4 million tonnes of ammonia in 2021.

YCA’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the last 12 months was $166 million as per Q1 2022.

The post Yara considers stock market listing for clean ammonia business appeared first on Agriland.co.uk.

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Man fined £300 for bonfire-related waste offences

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Written by William Kellett from Agriland

A man has pleaded guilty at Newtownards Magistrates’ Court to waste offences relating to a bonfire next to the electrical sub-station on the Circular Road in Newtownards, Co. Down.

Gareth Gill (51) of Abbot’s Walk, Newtownards pleaded guilty to two charges under the Waste and Contaminated Land (Northern Ireland) Order 1997, for which he was fined £150 each and ordered to pay a £15 offender’s levy

On June 25, 2018, PSNI officers went to Gill’s yard, where they found a large amount of waste consisting of scrap wood, pallets, carpet and underlay.

Discussion with Northern Ireland Environment Agency (NIEA) officers confirmed the site...