Abu Dhabi state energy giant Adnoc is a regional leader in raising capital through the listing of subsidiaries. The firm made a splash in 2017 when it listed 10% of its retail fuel subsidiary Adnoc Distribution on the Abu Dhabi Securities Exchange (ADX). After the $851mn initial public offering, the energy giant went on to list stakes in five other firms: Adnoc Drilling (2021), Fertiglobe (2021), Borouge (2022), Adnoc Gas (2023), and Adnoc Logistics & Services (2023).
Adnoc is transferring its stake in these firms to its international investment arm XRG, and on 8 October it held its ‘Investor Majlis,’ during which it emphasized their shared strategic priorities. (CONTINUED – 773 WORDS)
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