The Abu Dhabi National Oil Company (ADNOC) has confirmed that its acquisition of OCI’s 50 per cent plus one share in Fertiglobe, announced in December 2023, has received all necessary approvals and is set to conclude on Tuesday, October 15.
Once the transaction is completed, ADNOC’s shareholding in Fertiglobe will increase to 86.2 per cent, while the free float available for trading on the Abu Dhabi Securities Exchange (ADX) will remain at 13.8 per cent.
On the same day, management will conduct a webcast for investors and analysts to outline the company’s strategy for further growth and value creation. Fertiglobe will announce further details about the webcast in due course.
Additionally, the ADX reported 44 large direct transactions involving Fertiglobe shares on Friday. Market data shows that these trades covered 4.15 billion shares, amounting to AED 13.28 billion (£3.6 billion), with each share priced at AED 3.2.
Large direct transactions are executed outside the order book and do not impact the closing price of the company’s shares or the price index. These trades also do not affect the highest and lowest prices recorded during the session or over the past 52 weeks.
