All you need to know about the initial offering of the Emirati “ADNOC Supply”.

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by archywordys
June 2, 2023
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Malik Salameh – Mubasher: The Abu Dhabi Securities Market will witness tomorrow, Thursday, the start of trading in the shares of ADNOC Logistics and Services PLC within the first market, the first category, under the symbol ADNOCLS and international identification number AEE01268A239.

Mubasher Information monitors, based on press releases, the 11 most prominent information about the initial offering of the Emirati company ADNOC Supply.

The subscription period began on May 16, on the shares of ADNOC Logistics and Services, a subsidiary of ADNOC, by offering 15 percent of its capital, equivalent to 1.109 billion shares of its shares in the market.
The subscription targeted 3 tranches, the first for individuals, for which 9 percent of the offering shares were allocated, compared to 88 percent for professional investors, and 3 percent for employees of ADNOC companies and retirees of Emirati nationality residing in the country.
Each subscriber in the first tranche will have an allocation of up to 1,500 shares, while each subscriber in the third tranche will be guaranteed an allocation of up to 2,500 shares.
The specified period for the first and third tranches ended on May 23, while the second tranche extended until May 24, 2023.
The price range for the offering shares was set between 1.99 dirhams to 2.01 dirhams per share, which means that the value of the shares is 14.7 billion dirhams to 14.9 billion dirhams.
The subscription period for the “ADNOC Logistics and Services” company, for the private offering for individuals in the UAE, ended on May 23, 2023.
On May 25, ADNOC completed the price building and initial public offering (IPO) or offering of ADNOC Logistics & Services plc.
Achieved offering a minority stake representing 19% of the shares of the issuing company, after increasing it from 15% to meet the great demand from investors, at a final price of 2.01 dirhams per ordinary share.
Record total revenues upon settlement of about 2.83 billion dirhams ($769 million) for ADNOC.
The value of the offering, which I witnessed in its entirety, amounted to more than 460 billion dirhams, equivalent to 125 billion dollars, exceeding the target value by 163 times.
The initial public offerings that ADNOC has carried out collectively so far have raised 29.38 billion dirhams, equivalent to 8 billion dollars, achieving a total demand that exceeded 1.41 trillion dirhams, equivalent to 385 billion dollars.

It is noteworthy that the profits of ADNOC Logistics and Services jumped by 800 percent during the first quarter of this year.

The company’s profits amounted to 531.7 million dirhams, equivalent to 144.9 million dollars, in the first quarter of this year, compared to profits of 59.4 million dirhams, equivalent to 16.2 million dollars, in the corresponding period of last year.

The company’s revenues increased by 89 percent during the first quarter of this year, compared to the first quarter of last year.

The revenues of “ADNOC” for supplies and services amounted to 2.17 billion dirhams, equivalent to 592.17 million dollars, in the first quarter of 2023, compared to revenues of 1.14 billion dirhams, equivalent to 312.95 million dollars, in the corresponding period of last year..

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