ADNOC Distribution included in MSCI Emerging Markets Index effective 27 may 2021

Company becomes one of the 9 UAE listed companies to be part of MSCI EM Index

  
ADNOC Distribution included in MSCI Emerging Markets Index effective 27 may 2021
  • Inclusion expected to attract new foreign investors into ADNOC Distribution shares, contribute to the diversification of company’s investor base and strengthens awareness of ADNOC Distribution’s unique value proposition 

Abu Dhabi, UAE: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), announced today that Morgan Stanley Capital International (MSCI) has included ADNOC Distribution as part of its prestigious MSCI Emerging Markets Index with effective date of 27 May 2021.

ADNOC Distribution was included in the MSCI EM Index after meeting the necessary requirements and will now be among nine UAE listed companies to be part of the MSCI EM index which is most widely tracked by global institutional investors. The inclusion is expected to increase the attractiveness of ADNOC Distribution’s shares to potential international investors and thus further diversifying the Company’s investor base.

Ahmed Al Shamsi, Acting Chief Executive Officer of ADNOC Distribution said: “Being included on the MSCI Emerging Markets Index is an important milestone in ADNOC Distribution’s thriving equity narrative. The inclusion is a testament to the company’s ability to grow and a reflection of its solid performance and resilience since IPO. We remain focused on delivering strong and stable returns as we continue to grow our international investor base.”

In September 2020, ADNOC successfully completed a private placement of 1.25 billion of ADNOC Distribution shares (valued at USD 1 billion) to institutional investors, increasing the Company’s free-floating equity to 20%. This placement was the largest block placement of a publicly listed GCC company and leveraged on significant investor demand for ADNOC Distribution shares, driven by its attractive value proposition. This transaction also diversified the Company’s shareholder base and allowed for greater liquidity of its shares on the Abu Dhabi Securities Exchange.

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About ADNOC Distribution

ADNOC Distribution, listed on the Abu Dhabi Securities Exchange (ADX) under the symbol “ADNOCDIST”, is the leading fuel distributor and convenience store operator in the UAE. ADNOC Distribution operates 449 retail fuel stations, 332 convenience stores as of 31 March 2021 and is the leading marketer and distributor of fuels to commercial, industrial and government customers throughout the UAE. ADNOC Distribution is the only fuel retailer operating in all seven emirates in the UAE, and in 2018 expanded its operations internationally, opening two service stations in the Kingdom of Saudi Arabia. To find out more, visit www.adnocdistribution.ae 

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