ABU DHABI - The Abu Dhabi Securities Exchange (ADX) has announced the listing of ADNOC Gas PLC for trading in the First Market - First Category, starting Monday, 13th March.
The initial public offering (IPO) of ADNOC Gas is set to be the largest in the history of ADX, surpassing that of all other listed ADNOC companies, which include Borouge PLC, which was successfully listed on ADX in 3rd June, 2022.
ADNOC Gas had previously announced the final offer price for the shares offered by Abu Dhabi National Oil Company (ADNOC) in connection with ADNOC Gas’s IPO and listing on the ADX, following the successful conclusion of the bookbuild and public subscription process.
The final offer price for the shares in ADNOC Gas offered by ADNOC via the Offering has been set at AED2.37 per share, implying a market capitalisation (at the time of Admission) of ADNOC Gas of approximately US$50 billion (equivalent to approximately AED182 billion).
The price range for the IPO was previously set between AED2.25 to AED2.43 per share, meaning that the Offering was priced towards the top end of the previously announced price range of the Offering, following significant demand from both local and international investors.
Based on the final offer price, the total offering size is approximately US$2.5 billion (equivalent to approximately AED9.1 billion).