"ADNOC Logistics and Services" Join an index "Morgan Stanley Capital International Emerging Markets"

Abu Dhabi, 6 November / WAM / ADNOC Logistics and Services PLC announced today that its shares have been selected for inclusion in the Morgan Stanley Capital International Emerging Markets Index, which tracks large and medium-sized companies in 24 emerging market countries. The listing is scheduled to take effect as of November 25th.

This achievement comes following the successful secondary offering carried out by ADNOC last August on ADNOC Logistics and Services shares at a value of 1.16 billion dirhams ($317 million), which contributed to increasing the proportion of its free traded shares to approximately 22%, and led to an increase in the average daily trading volume by more than four times.

This offering also contributed to expanding the company’s institutional investor base, which paved the way for increased visibility in the index.

The offering process witnessed coverage exceeding the offer by approximately seven times, which is among the highest rates witnessed in secondary offerings in the region, embodying the firm confidence of investors in the company’s strategic direction, the strength of its financial position, and its future growth prospects. The selling price was set at 5.25 dirhams per share, which represents the lowest discount witnessed in a secondary offering in the region at 3.33%.

According to broker estimates, joining the index is expected to attract cash flows of more than 734 million dirhams ($200 million), improving the liquidity of the stock and facilitating its accessibility to global investors.

Captain Abdul Karim Al Musabi, CEO of ADNOC Logistics and Services, said that the inclusion of the company’s shares in the Morgan Stanley Capital International Emerging Markets Index represents a strong confirmation of the qualitative leap it has achieved to become a global leader in the field of maritime logistics services for the energy sector, stressing that this achievement reflects growing investor confidence, enhances access to international capital, and supports the company’s strategy to expand the scope of its operations and diversify sources of income, to achieve lucrative long-term returns for its shareholders.

He added that “ADNOC Logistics and Services” will become, with this listing, the fourth company within the “ADNOC” group to be included in the “Morgan Stanley Capital International Emerging Markets Index”, joining “ADNOC Distribution”, “ADNOC Drilling”, and “ADNOC Gas”, which enhances the growing presence of “ADNOC” in the global capital markets.

Since its initial public offering, ADNOC Logistics and Services has achieved a total shareholder return of nearly 200%, supported by strong growth in revenues and earnings before interest, taxes, depreciation and amortization.

Moreover, all eighteen analysts currently covering the company maintain their recommendations to buy ADNOC Logistics and Services, which reflects the market’s firm confidence in the company’s financial and strategic performance.

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