UAE's ADNOC Drilling to list on ADX on October 3

ADNOC had raised size of issue due to oversubscription

  
Image source Adnoc.

Image source Adnoc.

Abu Dhabi Securities Exchange said on Sunday that shares of ADNOC Drilling co. will list on its main market from 3 October, 2021 under the trading symbol ADNOCDRILL.

In the first week of September, the ADNOC subsidiary floated 11 percent of its share capital in an initial public offering (IPO) at 2.3 dirhams ($0.6262) per share. While the company had planned a sale of 7.5 percent of stake, the issue size was increased due to oversubscription. 

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021


More From Equities