UAE’s Dana Gas explores spin-off and listing of upstream business – ZAWYA

UAE’s Dana Gas explores spin-off and listing of upstream business – ZAWYA

DUBAI - United Arab Emirates' Dana Gas is considering spinning off its upstream business and listing the unit on the Abu Dhabi Securities Exchange , the Sharjah-based energy company said on Tuesday.. Dana Gas, which operates concessions Iraq's Kurdish region and Egypt, said it was studying a potential demerger of the business into a new company, according to a statement to the stock exchange.. Spinning off businesses typically allows the parent company and the spin-off alike to focus better on their respective strategies, while investors tend to value both more highly due to greater transparency.. It would be a boost for the Abu Dhabi Securities Exchange, which has not seen an equity offering since the listing of ADNOC Distribution in 2017..