Reported 1 day ago
Abu Dhabi's state energy firm, Adnoc, is aiming to raise approximately 10.4 billion dirhams ($2.84 billion) through a secondary offering of 4% of its gas business, Adnoc Gas. The shares will be sold to institutional investors at a price of 3.40 dirhams each, indicating strong demand that exceeds available shares. This move follows Adnoc’s strategy to increase the free-float of its gas unit and enhance its market presence.
Source: YAHOO