3.7 Billion Ddirhams for A Stake in ADNOC Distribution

ADNOC successfully executes a private placement of 3.7 billion dirhams for a stake in ADNOC Distribution.

Abu Dhabi National Oil Company (ADNOC) announced today the completion of a private placement process for 1.25 billion shares of ADNOC Distribution, listed and traded on the Abu Dhabi Securities Exchange, under the symbol (ADNOCDIST).

These shares were sold to investment institutions with a total value of 3.7 billion dirhams, which represents a 10% stake in the company’s shares. % On the average share price for the past three months.

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Summary

ADNOC successfully executes a private placement of 3.7 billion dirhams for a stake in ADNOC Distribution.

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