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Subscription period for retail tranche is May 16 to May 23 and May 24 for accredited investors
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Adnoc Group said on Tuesday that its subsidiary Adnoc Logistics and Services will sell 15% stake And listed on the Abu Stock Exchange (ADX).The company has established Prices range from Dh1.99 to Dh2.01 Earnings per share from the IPO could be as high as Dh2.23 billion.
Here is a guide on how to subscribe for an IPO:
- What is Adnoc Logistics and Services?
It is a subsidiary of the Adnoc Group and an important logistics service provider, providing professional services across the energy value chain.
- How to subscribe to a bank?
The leading receiving banks are First Abu Dhabi Bank, Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank and Al Maryah Community Bank.
- When can I buy Adnoc L&S shares?
The subscription period for the retail part is from May 16 to May 23, and for qualified investors on May 24.
- Can I subscribe from any Adnoc office?
Yes. Adnoc Group employees and retirees can submit applications at the reception centers set up at Adnoc Headquarters, Corniche Street, Abu Dhabi; Sheikh Khalifa Energy Center Abu Dhabi and Al Ruwais.
- What conditions do retail investors need to subscribe for new shares?
Those interested in subscribing to the IPO will need an investor number and bank account. The investor number is issued by the Abu Dhabi Securities Exchange.
- How to create an Investor Number (NIN) to subscribe to an IPO?
Investors can apply for an investor number to be issued at Abu Dhabi Securities Exchange through one of the following service channels – SAHMI digital platform (for Emirates ID holders with UAE Pass); approved brokerage firms; Abu Dhabi Customer service offices of all branches of the stock exchange;
- What documents are required for NIN?
Individual investors require an original Emirates ID. (applicable to UAE citizens and residents with Emirates ID); Passport and ID card of the country of residence and International Bank Account Number (IBAN) letter for foreigners not residing in the UAE, provided the bank account is in the applicant’s name only, and Not a joint bank account.
The price range for the IPO is set at Dh1.99 to Dh2.01 per share.
- How many tranches are IPOs divided into?
The first phase is open to qualified individual subscribers and other investors who do not qualify as professional investors. 9% of the offer shares (up to 99,879,734 shares) are allocated to the first tranche.
The second batch is open to qualified professional investors. 88% of the offer shares, or a maximum of 976,601,838 shares, were allocated to the second tranche.
The third batch is open to Adnoc Group employees, including retirees who are UAE nationals. 3%, or 33,293,245 shares, were allocated to the third tranche.
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