ABU DHABI – Abu Dhabi National Oil Company (ADNOC) has sold a 3 percent stake in its logistics and shipping subsidiary, ADNOC Logistics & Services (ADNOC L&S), for approximately AED 1.16 billion ($316 million).
The placement of 222 million shares to institutional investors was significantly oversubscribed by seven times within a four-hour accelerated bookbuild, a high for a secondary sell-down in the region.
The transaction, priced at AED 5.25 per share, will increase ADNOC L&S’s free float to 22 percent, a key step toward achieving MSCI index inclusion. This move is part of ADNOC’s strategy to boost shareholder value and attract international investment. Previous share placements for other ADNOC-listed companies have resulted in increased trading volume, foreign ownership, and analyst coverage.
ADNOC L&S has shown strong performance since its public listing in June 2023, with a total shareholder return exceeding 170 percent. In the first half of 2025, the company reported a 40 percent year-on-year increase in revenue and a 26 percent rise in EBITDA to AED 2.7 billion. The company has also maintained its commitment to a 5 percent dividend increase for 2025.
According to Khaled Al Zaabi, ADNOC Group CFO, the successful offering reinforces the company’s dedication to creating long-term value for shareholders. “This Offering reinforces our commitment to delivering long-term value for shareholders and supports the execution of our broader strategy to achieve index inclusion of our listed companies,” he stated.
ADNOC remains the majority shareholder and is committed to supporting the continued growth of ADNOC L&S, which provides essential services across ADNOC’s value chain and operates a fleet of over 340 vessels. The deal also reinforces the UAE’s position as a growing financial hub.
