Abu Dhabi’s ADNOC looks to raise up to $607m from IPO of logistics unit

Abu Dhabi’s ADNOC looks to raise up to $607m from IPO of logistics unit

DUBAI: State oil giant Abu Dhabi National Oil Co. said on Tuesday it has set a price range for an initial public offering of its marine and logistics unit that could raise up to $607 million and could give ADNOC Logistics & Services an equity valuation of as much as $4.05 billion.  The price range for the unit was set at 1.99 dirhams ($0.5420) to 2.01 dirhams per share, the company said in a statement.

Adnoc L&S: Abu Dhabi-based company aims to raise $607 million in IPO, sets price range of Dh1.99-Dh2.01

May 16—Adnoc Logistics and Services expects to raise up to $607 million (Dh2.23 billion) by selling 1.1 billion shares, representing 15 per cent stake in the firm, in an initial

Abu Dhabi's ADNOC looks to raise up to $607 mln from IPO of logistics unit

DUBAI -- State oil giant Abu Dhabi National Oil Co (ADNOC) said on Tuesday it has set a price range for an initial public offering of its marine and logistics unit that could raise up to $607 million and could give ADNOC Logistics & Services (ADNOC L&S) an equity valuation of as much as $4.05 billion.

Adnoc Unit’s $607 Million Abu Dhabi IPO Sells Out in Minutes

The initial public offering of Adnoc Logistics & Services got enough orders to cover all shares within minutes, showing continued strong demand for listings in the Middle East.

Adnoc Unit's $607MM Abu Dhabi IPO Sells Out in Minutes

The initial public offering of Adnoc Logistics & Services got enough orders to cover all shares within minutes.

ADNOC L&S sets IPO price range, seeks to raise $607m

ADNOC is offering 1.11 billion shares, equivalent to 15 per cent of the total issued share capital of ADNOC L&S