ADNOC to sell 3% stake in L&S via bookbuild offering

August 29, 2025 / 12:10 AM

Sharjah 24 – WAM: The Abu Dhabi National Oil Company (ADNOC), currently holding an 81% stake in ADNOC Logistics & Services (ADNOC L&S), announced plans to launch a bookbuild offering of up to 222 million ordinary shares—representing approximately 3% of ADNOC L&S’s total issued share capital.

The sale targets professional investors in the UAE and institutional investors globally under US Rule 144A and Regulation S. The proceeds will help increase trading liquidity and elevate the unit’s free float to around 22%

Bookbuilding schedule and settlement plans

The bookbuild offer has commenced and is expected to close before market opening on August 29, 2025, though this timeline may be accelerated

Final pricing and allocation details will be announced upon completion of the bookbuilding process. Settlement is anticipated to occur around September 3, 2025

Strategic benefits and MSCI Index ambitions

By increasing its free float, ADNOC aims to improve stock liquidity and bolster ADNOC L&S’s case for inclusion in the MSCI Emerging Markets Index. Index inclusion could expand investor interest and enhance ADNOC L&S’s international visibility

ADNOC is offering up to 222 million shares (3%) of ADNOC L&S via a bookbuild offering to institutional and professional investors. Bookbuilding opened August 28, closing August 29, with settlement expected by September 3. The move is designed to boost liquidity, diversify the shareholder base, and pave the way for potential inclusion in the MSCI Emerging Markets Index. Key financial backers facilitating this offering include First Abu Dhabi Bank, J.P. Morgan, and China International Capital Corporation.