Drilling intends to list on Abu Dhabi Securities Exchange

Drilling intends to list on Abu Dhabi Securities Exchange

Adnoc Drilling Company on Monday announced its intention to proceed with an initial public offering and to list its shares for trading on the Abu Dhabi Securities Exchange (ADX). 7.5 per cent of Adnoc Drilling’s issued share capital, will be included in the Offering to individuals and other investors in the UAE and to Adnoc Group Companies Employees and Adnoc Group UAE National Retirees (as defined in the UAE Prospectus) (as part of the UAE retail offering) and to qualified institutional and other investors (as part of the qualified investor offering). Abu Dhabi National Oil Company ( Adnoc or the Selling Shareholder) retains the right to increase the size of the Offering at any time before pricing of the Offering. Adnoc Drilling has 107 rigs, of which 96 rigs are owned and 11 rigs are rented, as of 30th June 2021 and the sole provider of drilling rig hire services and certain associated rig-related services to the Adnoc Group on agreed contractual terms. Adnoc Drilling provides its customers with a full suite of drilling services, including rig hire services and certain associated rig-related services in Abu Dhabi and oilfield services (such as integrated drilling services, wireline, directional drilling, cementing, pressure