[ad_1]
The Abu Dhabi Securities Exchange (ADX) announced that Adnoc Gas will be listed and traded on the primary market from March 13.
The initial public offering (IPO) of Adnoc Gas will be the largest in ADX history, surpassing all other Adnoc listed companies, including Borouge, which successfully listed on ADX last June.
Adnoc Gas previously announced the final offer for shares issued by Abu Dhabi National Oil Company (Adnoc) in connection with Adnoc Gas’s initial public offering and listing on ADX, following the successful completion of the inquiry and public subscription process for the shares.
The final offer price for Adnoc Gas shares offered by Adnoc through the offering was set at AED 2.37 per share, implying a market capitalization (at the time of admission) of Adnoc Gas of approximately US$50 billion.
The price range for the IPO was previously set at between AED2.25 and AED2.43 per share, meaning the offering was priced near the upper end of the previously announced offering price range following strong demand from local and international investors.
Based on the final offering price, the total issuance size is approximately US$2.5 billion.-TradeArabia News Service
[ad_2]
Source link