Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

UAE’s ADNOC Logistics surges 50 percent in share float

The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project.
By TRENDS Desk AFP
June 1, 2023 2:52 pm
  • ADNOC Logistics and Services was heavily oversubscribed even after the offering was expanded from 1.1 billion to more than 1.4 billion shares
  • The shares rose to over 3 dirhams ($0.82) on the Abu Dhabi stock exchange, up from the launch price of 2.01 dirhams, which was towards the top of its range

Abu Dhabi, United Arab Emirates– Shares in UAE state oil company ADNOC’s logistics unit soared 50 percent as they hit the market in a $769 million initial public offering on Thursday.

ADNOC Logistics and Services, formed in 2016, was heavily oversubscribed even after the offering was expanded from 1.1 billion to more than 1.4 billion shares, equivalent to 19 percent of the business.

The shares rose to more than 3 dirhams ($0.82) on the Abu Dhabi stock exchange, up from the launch price of 2.01 dirhams, which was towards the top of its range.

The listing comes just weeks after ADNOC floated its gas unit in a $2.5 billion IPO in March.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]