ADNOC announces final offer price and record demand for the IPO of ADNOC Logistics & Services plc

ADNOC announces final offer price and record demand for the IPO of ADNOC Logistics & Services plc

- The Final Offer Price for ADNOC Logistics & Services plc’s IPO on the ADX has been set at AED 2.01 per share, at the top end of the previously announced price range of the IPO.

- The Offering saw the largest demand globally for an IPO this year and was significantly oversubscribed by local, regional, and international investors with total gross demand for the IPO amounting to over $125 billion (equivalent to over AED 460 billion), implying an oversubscription level of 163 times in aggregate, the highest-ever oversubscription level for a UAE bookbuild IPO.

- The Offering raised gross proceeds of approximately $769 million (equivalent to approximately AED 2.83 billion), with an implied market capitalization for the Company of approximately $4.05 billion (equivalent to approximately AED 14.9 billion).

- Admission is expected to commence on Thursday, June 1, 2023.

Abu Dhabi, UAE: Abu Dhabi National Oil Company (ADNOC) PJSC (“ADNOC” or the “Selling Shareholder”), today announces the final offer price (the “Final Offer Price”) for the shares offered by it in connection with the initial public offering (the “IPO” or “Offering”) and listing on the ADX of ADNOC Logistics & Services plc (the “Company” or “ADNOC L&S”), a global energy maritime logistics leader,