“ADNOC Gas” share records 37 billion dirhams in profits in its debut trading week

ABU DHABI, 17th March, 2020 (WAM) — The share of “ADNOC Gas” consolidated its gains in the first week of listing on the Abu Dhabi Securities Exchange, gaining a market capitalization of approximately 37 billion dirhams.
The market capital of “ADNOC Gas” shares rose from 181.9 billion dirhams upon listing to more than 218.7 billion dirhams by the end of today’s session.
The share price increased by 20.2% since the listing, to close at 2.85 dirhams at the end of trading today, compared to the offering price of 2.37 dirhams.
And “ADNOC Gas” attracted liquidity during the week by about 1.236 billion dirhams, after trading on more than 436.9 million shares through more than 16.6 thousand transactions.
And shares of “ADNOC Gas” were listed earlier this week on the Abu Dhabi market, in the largest initial public offering ever in the market and the largest initial public offering in the world so far this year, after collecting total revenues of 9.1 billion dirhams, achieving the strongest demand ever for IPO in the UAE with total demand across all tranches over AED 450 billion, overall exceeding target value by nearly 50 times.