The start of the IPO period for “ADNOC Drilling”

The start of the IPO period for “ADNOC Drilling”
The start of the IPO period for “ADNOC Drilling”

The Abu Dhabi National Oil Company “ADNOC” announced the pricing of the IPO share of “ADNOC Drilling” at 2.30 dirhams per share, which makes the market value of the company 36.7 billion dirhams.

She explained that the subscription price was set by ADNOC as the “selling shareholder” and ADNOC Drilling, following strong initial demand indicators from local and international investors, before the official subscription period began, which began yesterday.

ADNOC and ADNOC Drilling expect the share price to provide an attractive proposition to investors that reflects ADNOC’s confidence in ADNOC Drilling’s long-term growth path and its prioritization of strong post-listing performance.

The decision to set the share price also comes in line with one of ADNOC’s main objectives, which is to support the growth and diversification of capital markets in the UAE and Abu Dhabi.

The subscription period for the ADNOC Drilling IPO officially began yesterday, and will close on September 23 for individual investors in the UAE, and on September 26 for qualified investors from local and international institutions.

ADNOC Drilling is expected to be listed on the Abu Dhabi Securities Exchange on October 3, 2021.

The IPO share pricing makes the company’s market capitalization 36.7 billion dirhams.

Google Newsstand

Follow our latest local and sports news and the latest political and economic developments via Google news



Pin Interest
Whats App

These were the details of the news The start of the IPO period for “ADNOC Drilling” for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT US Fed holds key rate steady for fourth straight meeting

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]