ADNOC Raises $2.5 Billion From Gas Unit IPO ...Middle East

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ADNOC Raises $2.5 Billion From Gas Unit IPO
source : OILPRICE ( Middle East ) () 52
The UAE’s energy major ADNOC has raised $2.5 billion from the listing of its gas business unit in what has become the biggest IPO since the start of the year. The offering was 50 times oversubscribed, with investors placing orders for $124 billion in total, Bloomberg reported. The issue was fully subscribed just hours after the offering was first announced. Then, this week, ADNOC had to increase the size of the planned offering by 25 percent due to strong investor interest, suggesting that despite the recent slump in gas prices interest in…

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