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The Arabian News > Exclusive > ADNOC: No Decision Yet on Selling Additional Stake in ADNOC Gas
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ADNOC: No Decision Yet on Selling Additional Stake in ADNOC Gas

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ADNOC (Abu Dhabi National Oil Company) has stated that it has not yet decided for the sale of an additional stake in its gas subsidiary, ADNOC Gas, despite media reports suggesting that a follow-on stock offering might be on the horizon. Currently, ADNOC owns 90% of ADNOC Gas and has clarified that neither the timing nor the size of any potential sale has been determined.

The energy giant highlighted that ADNOC Gas has significant potential for value creation, which could be further enhanced through broader indexation. This approach would improve liquidity and diversify the shareholder base. ADNOC believes that increasing the free float at the current market capitalization levels would help achieve these objectives.

At present, ADNOC Gas is trading at Dh3.48 on the Abu Dhabi Securities Exchange (ADX), with a market capitalization of Dh267 billion.

This situation indicates that while ADNOC recognizes the long-term value of ADNOC Gas, the company is thoughtfully evaluating the right time to consider any future sale.

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TAGGED:Abu DhabiADNOCADNOC gasDubairas al khaimahSharjahUAE
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