ADNOC Natural Gas IPO Marks Big Quarter For The UAE ...Middle East

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ADNOC Natural Gas IPO Marks Big Quarter For The UAE
source : OILPRICE ( Middle East ) () 36
The multibillion-dollar initial public offering of the gas business of Emirati ADNOC sent the UAE to the top spot among Gulf states in terms of IPO proceeds for the first quarter of the year. The $2.5-billion listing brought the UAE’s total IPO proceeds for the period to $3.2 billion, The National reported, which represented a twofold increase on the first quarter of 2022. The offering was 50 times oversubscribed, with investors placing orders for $124 billion in total, Bloomberg reported in March. The issue was fully subscribed just…

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