Abu Dhabi’s ADNOC Distribution included in FTSE Emerging Markets Index

Abu Dhabi’s ADNOC Distribution included in FTSE Emerging Markets Index

Abu Dhabi-listed fuel retailer ADNOC Distribution announced on Sunday that it will now be included in the FTSE Emerging Markets (EM) Index. The inclusion will be effective September 16, 2021, at close of business, and is subject to final confirmation by FTSE on September 6. ADNOC Distribution was included in the FTSE EM Index by FTSE Russell after meeting the necessary requirements, and will now be part of the index. The inclusion is expected to increase the attractiveness of ADNOC Distribution’s shares to potential international investors and further diversify the company’s overall investor base, a statement said. ADNOC Distribution was included in the MSCI emerging markets index from May 27, 2021. Bader Saeed Al Lamki, CEO, ADNOC Distribution, said: “Following the inclusion of ADNOC Distribution in the MSCI EM Index in May 2021, the FTSE EM Index marks another important milestone in ADNOC Distribution’s successful equity story. This will continue to enhance the company’s investment appeal and visibility among global investors, attracting more foreign inflows into ADNOC Distribution shares. In September 2020, Abu Dhabi National Oil Company (ADNOC) completed a private placement of 1.25 billion of ADNOC Distribution shares (valued at $1bn) to institutional investors, increasing the company’s free-floating equity