The Abu Dhabi National Oil Company (Adnoc) has announced its plan to offer 3.1 billion shares of Adnoc Gas through a Marketed Offering. This represents 4% of the company’s total shares and aims to increase liquidity and expand investor participation.
Offering Details and Timeline of Shares
The offering begins immediately and is expected to close on Friday, February 21, unless Adnoc decides to speed up the process. Adnoc currently owns 90% of Adnoc Gas and is taking this step to boost trading activity and diversify its shareholder base.
Key details include:
- A 180-day lock-up period for both Adnoc and Adnoc Gas, with limited exceptions.
- The offering is open only to Professional Investors, as defined by the UAE Securities and Commodities Authority (SCA).
- Institutional investors may have pre-offering meetings with Adnoc Gas representatives.
Adnoc’s Strategic Vision
Khaled Al Zaabi, Group CFO of Adnoc, highlighted the company’s commitment to growth and shareholder value:
“Since its IPO in March 2023, Adnoc Gas has demonstrated strong financial performance and steady expansion. This offering supports our goal to enhance market liquidity and attract a broader investor base.”
Potential Market Impact
A larger free float of Adnoc Gas shares could lead to its inclusion in global indices, such as:
- MSCI Emerging Market Index
- FTSE Emerging Market Index
If Adnoc meets all requirements, it could be added during the next quarterly review, increasing international investor interest.
This move reinforces Adnoc’s commitment to market growth, improved trading activity, and long-term investor confidence.
