Edinok to raise $ 750MM from excavation unit IPO

as if Shaji Matthew On 9/13/2021

(Bloomberg) – Abu Dhabi National Oil Company wants to raise $ 750 million in IPO, one of the largest shareholders in the United Arab Emirates.

Edinok excavated the price at 2.30 dirhams for the list, which represents a $ 10 billion equity. The offer represents 1.2 billion shares or 7.5% of the company’s shares, although Edinok said it could increase its stake.

According to Bloomberg News, the company is interested in investing enough to cover the current stock.

The offer comes as Abu Dhabi seeks to renew its IPO on the stock exchange. The XX, a portfolio that offers flexibility for stock sales, offers flexibility that promises to reduce or eliminate listing fees.

Satellite operators Yahsat was listed in July, and Sources familiar with the matter said earlier this month that the Royal Wealth Fund Mubadala Investment Company was preparing to select suppliers of more than $ 15 billion from Emirates Global Aluminum.

Abu Dhabi National Oil Company, also known as ADNOC, has begun preparations for a potential IPO for its fertilizer joint venture, and the sovereign wealth fund ADQ plans to list Abu Dhabi ports before the end of this year.

The United Arab Emirates, the third-largest producer of the Petroleum Exporting Countries, has used its oil resources to expand its economy as a tourism industry and to develop international transport and trade centers. The cholera epidemic affected those businesses last year by reducing energy consumption, disrupting air travel, and disrupting trade flows.

Details of Adenok Excavation Supply

  • The subscription period opens on September 13 and closes on September 23 for UAE retail investors and September 26 for qualified local and international institutional investors.
  • Last discount September 27
  • Expected list date – October 3 or around
  • International Coordinators – First Abu Dhabi Bank, Goldman Sachs, HSBC, Jepimorgan
  • Co-authors EFG-Hermes, Emirates NBC Capital, International Security, Meryl Lynch International and Social General

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