ADNOC to float 4% of its gas business in IPO - statement

ADNOC Gas's offering is set to be open from Feb. 23 to March 2 for institutional investors, while retail investors can subscribe until March 1, according to the notice in the National newspaper and the statement.

ADNOC holds a 95% stake in ADNOC Gas, and prior to the offering, it transferred 5% of the share capital of ADNOC GAS to Abu Dhabi National Energy Company.Should the deal go through, ADNOC Gas expects to target payments of dividends of $1.625 billion in the fourth quarter of this year for the first half of 2023, according to a ADNOC Gas intention to float document emailed on Friday.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Report: Two classic S.F. companies want to go publicHow much will karma points count for on the public market? Reddit might find out. The company is looking into an IPO this year.
Source: sfexaminer - 🏆 236. / 63 Read more »

After IPO, Bausch + Lomb turns to an industry favorite to run the companyBausch + Lomb’s decision to bring back Brent Saunders as CEO hints at the company's broader ambitions in the global eye-care market.
Source: MarketWatch - 🏆 3. / 97 Read more »

IPO drought will continue, market ‘too risky’Initial public offerings (IPO) were down in 2022 amid inflationary pressures and economic downturn, and experts don’t predict the market to improve in 2023.
Source: FoxBusiness - 🏆 458. / 53 Read more »