Abu Dhabi state gas firm looks to raise $2 billion in initial public offering

Abu Dhabi state gas firm looks to raise $2 billion in initial public offering

DUBAI, United Arab Emirates-

Abu Dhabi's state gas company expects to raise up to $2 billion by selling 4% of its shares in an initial public offering, the company said Thursday.

It said the price range for the previously announced sale of over 3 billion shares has been set at 2.25 to 2.34 Emirati dirhams, valuing the company at up to $50.8 billion. The subscription period begins Thursday, with the final offer price expected to be announced March 3.