Abu Dhabi’s stock exchange (ADX) is expected to experience a surge in market capitalisation, reaching AED 2.884T ($784B), as ADNOC Gas makes its debut on the First Market – First Category starting from Monday, 13th March.
This will mark the first time in the exchange’s history that the market capitalisation will rise to this level, as it continues to attract more initial public offerings to strengthen the UAE’s financial position regionally and internationally, according to WAM.
The final offer price for ADNOC Gas shares was set at AED 2.37 per share, resulting in a market capitalisation of approximately $50B, and the total offering size is around $2.5B. The Offering was priced towards the top end of the price range, due to high demand from both local and international investors.
