“ADNOC Supply” has set a record of over 460 billion dirhams.

Yesterday, ADNOC announced that it has completed the pricing process of ADNOC Logistics and Services plc, which achieved the offer of a minority stake representing 19% of the company’s shares on offer, after being increased from 15%. There was strong demand from investors at the closing price of 2.01 dirhams per ordinary share, a settlement of 2.83 billion dirhams for ADNOC.

The offering of “ADNOC Supply” has seen an exceptional demand, making it the highest demand for public subscription in the world in the current year, after witnessing a huge demand from individuals and professional investors in the UAE, which is higher overall. 460 billion dirhams, exceeding the total target value. 163 times, which is higher than the target value of building price for IPO in UAE.

ADNOC Group Chief Financial Officer Khaled Al Zaabi said: “This subscription has seen the highest demand for a public subscription in the world so far this year and has reached a high level exceeding the target value to form a price. Public Subscription in the United Arab Emirates.”

He added, “This historic initial public offering is the sixth time (ADNOC) has executed a minority stake in one of its subsidiaries within five years. It confirms the role of (ADNOC Supply and Services) in providing profitable investment opportunities, supported by strong and long-term growth prospects and gradual dividend distribution.” .

He emphasized that ADNOC welcomed the new investor base and looked forward to their contribution to the company’s growth and development as it continued its efforts to achieve sustainable growth for the UAE, Abu Dhabi and its stakeholders.

See also  Elon Musk's new girlfriend is 23 years younger than the world's richest man

  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 131 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Best HydraFacial Clinic in Dubai: The Magic of Radiant Skin

    Best HydraFacial Clinic in Dubai: The Magic of Radiant Skin

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?