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ADNOC Distribution is planning to continue its growth in foreign markets, especially the Saudi market, through cooperation with one of the largest companies in the Kingdom during the current year.
Saeed Mubarak Al Rashidi, Acting CEO of ADNOC Distribution, said in a statement to the Emirates News Agency (WAM) on the sidelines of ADNOC’s General Assembly held in Abu Dhabi Towers, adding that the company believes organic and inorganic growth contributes to its expansion.
ADNOC Distribution manages 378 service stations and 250 retail stores by the end of last year. The company has adopted an option model that allows it to buy up to 5% of its available shares according to market conditions. Which can be used to support the value of the stock, including options for stock management, resale, share swap and others.
He pointed out that the Capital Markets Conference organized by the company in London and New York on 7 and 8 May in which the senior management of ADNOC Distribution Company will review the company’s growth strategy, current situation and future vision as well as the company’s financial profile.
