32.5 C
Dubai
Wednesday, May 14, 2025
spot_img

Emirates News Agency – ADNOC Gas to be listed on ADX on March 13

[ad_1]

ABU DHABI, 9th March, 2023 (WAM) — The Abu Dhabi Securities Exchange, ADX, has announced the listing and trading of ADNOC Gas PLC on the Primary Market – Category 1 starting from Monday, March 13th.

ADNOC Gas’ initial public offering (IPO) will be the largest in ADX history, surpassing all other listed ADNOC companies, including Borouge PLC’s successful listing on ADX on June 3, 2022.

ADNOC Gas previously announced the final offer for shares issued by Abu Dhabi National Oil Company (ADNOC) following the ADNOC Gas IPO and listing on ADX, following the successful conclusion of the inquiry and public subscription process for the shares.

The final offer price of ADNOC Gas shares issued by ADNOC through this offering is set at AED 2.37 per share, implying a market capitalization (at admission) of ADNOC Gas of approximately USD 50 billion (equivalent to approximately AED 182) ten 100 million).

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 (approximately AED9.1 billion).

Amjad Saleh / Tariq Al Faham

[ad_2]

Source link

Related Articles

Global Rankings Leader U.S. News & World Report Enters India with Investment in The Red Pen

With a growing appetite for international education among Indian students, this new partnership is set to reshape how families approach global admissions. For years, The...

Age Is Just the Beginning: How Hardik Dewan Is Transforming Youth Potential into Power

The Teenager Who’s Already Shaping India’s Future At an age when most are still figuring out college applications or their first internships, Hardik Kumar Dewan...

From Ocean Waves to Cityscapes: How Furquan Ahmed & Marine Group are Reshaping Lucknow

Some journeys begin with a well-thought-out plan. Others, however, are born from bold choices and an unwavering belief in oneself. For Furquan Ahmed, it...

From Coach to Catalyst: How Ashwinee Kalkura is Guiding Businesses Through Agile Transformation

Finding the Right Kind of Disruption In an era dominated by digital transformation, buzzwords often outpace real impact. But Ashwinee Kalkura is not here for...

ADNOC Secures Strategic Breakthrough with U.S. LPG Supply to India

ADNOC, (Abu Dhabi National Oil Company) is set to begin supplying liquefied petroleum gas (LPG) sourced from the United States to India starting in...

Latest Articles