The state oil giant announced on Feb. 27 it would increase the stake offered to investors in the initial public offering of ADNOC Gas to 5% from 4% due to strong demand for the deal.
Proceeds raised from the IPO amounted to $2.5 billion, a company statement said, implying a market capitalisation of about $50 billion.Reporting by Rachna Uppal; Editing by Edmund Klamann
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
As UAE's ADNOC sets the final price for its gas business IPO, investors are eager to get their hands on a piece of the nation's energy industry. The UAE continues to be a global leader in the energy sector