“ADNOC Logistics and Services IPO Subscription Starts at ADX”

Abu Dhabi – Mubasher: The Abu Dhabi Securities Market is witnessing today, Tuesday, the start of the subscription period for the shares of ADNOC Logistics and Services, a subsidiary of ADNOC, by offering 15% of its capital. Equivalent to 1109.8 million of its shares in the market.

According to the data, the subscription targets 3 segments, the first being for individuals, for which 9 were allocated% of the offering shares, compared to 88% For professional investors, and 3% For employees of ADNOC companies and retirees of Emirati nationality residing in the country.

Each subscriber in the first tranche will be guaranteed an allocation of up to 1,500 shares, while each subscriber in the third tranche will be guaranteed an allocation of up to 2,500 shares. The period specified for the first and third tranches ends on May 23, while the second tranche extends until May 24, 2023..

The price range for the offering shares was set today, between 1.99 dirhams to 2.01 dirhams per share; This means that the value of the shares is 14.7 billion dirhams to 14.9 billion dirhams, and the shares are expected to be listed on the Abu Dhabi Stock Exchange on June 1.

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