News dalla rete ITA

17 Maggio 2023

Emirati Arabi Uniti

ADNOC GROUP PLANS ANOTHER MEGA IPO; TO LIST ITS LOGISTICS & SERVICES ARM

The critical service provider’s revenue and EBITDA was $2.3 billion and $599.3 million respectively for 2022; Revenue growing at a CAGR of more than 20 percent since 2017.Following the mega success of ADNOC Gas initial public offering (IPO), the Abu Dhabi energy giant announced on Wednesday that it would float a 15 percent minority stake in ADNOC Logistics & Services (ADNOC L&S) on the Abu Dhabi Securities Exchange (ADX).The IPO for the company responsible for vital logistics services to ADNOC Group, is expected to open on May 16, subject to regulatory approvals. Details of the IPO will be released soon.The global company has one of the largest and most diverse shipping fleets in the region and is among the largest operator and owners of self-propelled Jack-up barges. It operates one of the largest integrated energy supply bases in the UAE, and provides shipping, end-to-end logistics and marine services to its customers.In addition to its anchor customer, ADNOC Group, the company services over 100 global customers and ships to more than 50 countries, utilising a fleet of more than 500 modern and advanced vessels, including 245 owned vessels.In March this year, ADNOC Gas IPO was oversubscribed nearly 50 times and it raised $2.5 billion – making it the biggest listing ever in the UAE history, beating the previous record of $2 billion by Borouge last year. (ICE DUBAI)


Fonte notizia: https://www.arabianbusiness.com/abnews/adnoc-group-plans-another-mega-ipo-to-list-its-logistics-serv