ADNOC L&S offering likely to price AED5.25/share: terms

ADNOC L&S offering likely to price AED5.25/share: terms

Adnoc Logistics and Services (L&S), a subsidiary of Abu Dhabi National Oil Company (ADNOC), is planning to offer up to 222 million ordinary shares through a bookbuilding offering. The purpose of this offering is to boost the company's liquidity and trading, as well as to enhance its chances of inclusion in the MSCI Emerging Market Index [1].

The bookbuilding period has already begun and is expected to close at the pre-market opening on Friday, July 3, 2025. The final number of shares to be placed, the offering price, and the final terms will be announced following the closure of the bookbuilding period. The settlement of the offering is expected to take place on or around September 3, 2025 [1].

The offering will be open only to professional investors in the UAE and institutional investors elsewhere. The company will not make the offering available to the public. The 222 million shares represent approximately 3 per cent of the company's issued and outstanding share capital [1].

A higher free float is expected to provide a path to inclusion in the MSCI Emerging Market Index, which may occur at the next quarterly review, subject to Adnoc L&S meeting all the relevant inclusion criteria [1]. The MSCI Emerging Markets Index is tracked by investors managing trillions of dollars in assets and includes more than 1,320 constituents from 24 emerging markets [1].

Adnoc L&S delivers energy products and solutions to more than 100 customers in about 50 countries through its three business units, including integrated logistics, shipping, and marine services. The company reported a 10 per cent annual rise in its second-quarter net profit, with revenue for the period rising about 40 per cent to $1.25 billion [1].

If Adnoc L&S is included in the MSCI index, it is expected to contribute to the further diversification of the company’s investor base and strengthen awareness of its differentiated proposition as a leader in global energy maritime logistics [1].

References:
[1] https://www.thenationalnews.com/business/markets/2025/08/28/adnoc-ls-to-offer-222-million-shares-in-bid-to-join-msci-index/