ADNOC confirms IPO listing on Abu Dhabi Stock Exchange

UAE Minister of State and ADNOC Group CEO Sultan Ahmed Al Jaber has confirmed plans to list a minority stake in ADNOC Distribution on the Abu Dhabi Securities Exchange (ADX).

The planned initial public offering (IPO) is in line with United Arab Emirates’ (UAE) vision to ensure sustainability and prosperity and highlight ADNOC’s integrated 2030 strategy of further developing the company’s upstream, downstream, and gas supply business.

It “will offer both UAE and international investors an unprecedented opportunity to invest alongside ADNOC in one of the region’s leading retail brands,” said Al Jaber.

Al Jaber, however, emphasized that ADNOC at a holding company level, will continue to be wholly owned by the Abu Dhabi government.

In addition, the IPO listing will be subject to regulatory approvals, including those from the UAE Securities and Commodities Authority, and the ADX.