ans Zayed
Yes. Thank you. There are actually 2 webcast questions from Ruth Battenhash [ph]. The first one is, thanks for the presentation. When can we expect a further update about the IPO of Fertiglobe? And is it essential that ADNOC first complete their IPO of their drilling business before the Fertiglobe IPO? That will be done. That's the first one.
Hassan Badrawi
Yes, I can take the first one, Hans, before -- but I guess, as I mentioned earlier in the call, we will -- as soon as the material information to communicate on the IPO, we will share it. The one note that I will show the audience that, obviously, market -- this particular market and many markets in the region are similar. We can only manage a certain amount of transaction at a time. So there needs to be some degree of sequencing there, but that's all I will share. But as soon as we have something material in terms of timing and the appropriate window subject to market conditions, we will communicate that actively with the market.
Hans Zayed
And the second question is, is it expected that the third quarter will be even better than the second quarter? Second quarter was already much better than the first.
Ahmed El-Hoshy
Yes. I mean the guidance we're coming out with analysis with regards to the year-end that we were completely deleveraging in terms of the market to target being 2x leverage. And we think that, like I said, pricing is significantly better in Q3 versus Q2 and Q1, and we expect with our order book that are in place today as well as the trajectory over the balance of the year to be in a good position on the second half of the year as well.
Hans Zayed
There's no further webcast questions. I think I'll hand back to Ahmed to close.
Ahmed El-Hoshy
Okay. Thanks. Thanks, Hans. Thank you all for joining us today. Stay safe. I'm looking forward to our Q3 results discussion.
Operator
Ladies and gentlemen, the conference has now concluded, and you may disconnect your telephone. Thank you for joining, and have a pleasant day. Goodbye.