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Shares of the “ADNOC Gas” company were sold in the first hour of the start of the public subscription period, worth two billion dollars, on Thursday, a source close to the company told AFP.
“Investors bought all the offered shares within an hour,” said the source, who asked not to be named.
The company had announced its intention to offer a minority stake of 4 percent (3.07 billion shares) of the company’s shares for its gas processing, operation and marketing operations, for an initial public offering on the Abu Dhabi Stock Exchange.
And the company announced in a statement on Thursday morning that it had set the price range for the offering shares “between 2.25 to 2.43 dirhams per share,” which means that the value of the company (which has about 77 billion shares) ranges between $47 billion and 50.8 billion. dollar.
