listing of Brooge Petroleum on Nasdaq Stock Exchange

The United Arab Emirates’ Brooge Petroleum and Gas Investment Co (BPGIC) said it would list on the Nasdaq stock exchange after merging with U.S.-based firm Twelve Seas Investment Co.

The $1 billion deal is expected to be finalized before July 1, 2019

The move is part of the UAE-based oil storage company’s expansion strategy. BPGIC, which was set up in 2013, is one of the largest holders of storage assets in Fujairah.