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Brooge Energy Limited, a Cayman Islands-based infrastructure provider specializing in clean petroleum products, biofuels, and crude oil storage, has announced its voluntary delisting from the Nasdaq Capital Market.
The company plans to file a Form 25 (Notification of Removal from Listing) with the SEC and Nasdaq on or about June 9, 2025. This means the last day its shares are expected to be quoted on Nasdaq will be on or about June 19, 2025. Brooge Energy does not intend to list its shares on another securities exchange.
Following the delisting, Brooge Energy intends to file a Form 15 with the SEC on or about June 19, 2025, to suspend its reporting obligations under the Securities Exchange Act of 1934. The formal deregistration is expected to become effective 90 days after the Form 15 filing.
The decision to delist and deregister was made by Brooge Energy’s Board of Directors after a careful review of various factors. These factors include the lack of an active trading market for its securities and the significant resources and expenses associated with maintaining compliance with Securities Exchange Act and Nasdaq disclosure and reporting requirements.
In a related development, Brooge Energy recently announced the sale of two subsidiaries, BPGIC FZE and BPGIC Phase III FZE, to Gulf Navigation Holding PJSC (GulfNav) for approximately USD 884 million. This strategic move, which includes cash, shares, and mandatory convertible bonds, is expected to streamline operations and enhance service offerings, potentially increasing stakeholder value. The transaction is anticipated to be finalized by the third quarter of 2025.

Video courtesy of Eurex

Video courtesy of Eurex