Strong demand for the subscription of “ADNOC Logistics” .. and coverage of the offering from the first hours, the return on investment is about 6.4%

The subscription to the “ADNOC Logistics and Services” offering attracted strong orders within the first hours, exceeding the supply several times, which indicates the continued strong demand for listings in the UAE.
On the basis of the offering price between 1.99 dirhams and 2.01 dirhams per share, the return on investment in the company’s shares will reach 6.4%.
ADNOC Logistics and Services aims to pay attractive dividends of 954.9 million dirhams ($260 million) for the year ending December 31, 2023, of which 238.7 million dirhams will be paid next October, with another 477.4 million dirhams being paid in April 2024. The company also expects Increasing dividends by 5% annually over the medium term.

ADNOC is preparing to sell 1.11 billion shares in its marine logistics unit, or 15%, and the company’s value at listing is estimated at between $4.01 billion and $4.05 billion (14.7 billion to 14.9 billion dirhams).

ADNOC reserves the right to amend the offering size at any time prior to the end of the subscription period.
In the event that all the offered shares are sold, the volume of the offering will range from about 601 million to 607 million dollars (2.21 billion to 2.23 billion dirhams). The final offering price is expected to be announced on Thursday, May 25, 2023.
The offering process and acceptance of the listing is expected to be completed on Thursday 1st June, subject to favorable market conditions and obtaining relevant regulatory approvals in the UAE, including approval to accept the listing.