"ADNOC" It successfully complements a rated offering of 3.1 billion shares from "ADNOC Gas"
Abu Dhabi, February 21/ WAM/ The Abu Dhabi National Oil Company “ADNOC” announced today, its successful completion of a rated offering of about 3.1 billion ordinary shares for investment institutions from the shares of ADNOC Gas BLC.
This proposal represents 4%of the exported and upcoming capital for “ADNOC Gas”, and will contribute to increasing free trading on the company’s shares by 80%, bringing the free trading rate to 9%.
The offering witnessed an exceptional request from investment institutions in the countries of the Cooperation Council for the Arab States of the Gulf and the world, with a volume of a request equal to 4.4 times the value of the offering, and it was priced at 3.40 dirhams per share, or almost 43% higher than the first public offering price of 2.37 dirhams per share.
The offering collected total revenues of about 10.4 billion dirhams, and the offering is expected to be settled on February 26, 2025 or on a date soon.
ADNOC Gas Company continued to achieve fixed growth and profitability rates according to the financial results of the company for the fiscal year 2024, as it achieved a net income of 18.4 billion dirhams, which constitutes the highest level since the company’s first public offering, with a net profit of 5.1 billion dirhams in the fourth quarter From 2024.
This strong performance of ADNOC Gas Company is in line with the recent update of its strategy announced in November 2024, which defined the updated growth plans for the company, including the future acquisition of the Ruwais LNG project and the progress made in achieving its goal of increasing profits before deducting interest and taxes And consumption and consumption by more than 40% by 2029.
The “ADNOC Group” will continue to keep the majority share, which constitutes 86% in the “ADNOC Gas Company”, and has also agreed not to sell more of its shares for a period The joint global; Such as “Bank of America for Securities”, “City”, “Financial Group Hermes”, “Abu Dhabi First Bank”, “HSBC Bank” and “International Securities”.
It is also expected after the completion of the offering, that larger numbers of free stocks will provide a path towards listing in the “Morgan Stanley Capital International Emerging Markets” index – and “Financhail Times for Securities – FTSE”, expected to be implemented during the next quarterly review Taking into account the “ADNOC Gas” fulfillment of all Related listing criteria.
The Insert of “ADNOC Gas” in these two rects contributes to the diversification of the base of investors in it widely, and highlighting its distinctive investment value.
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