Abu Dhabi National Oil Company (ADNOC) PJSC (ADNOC), the current majority shareholder with an 81% stake in ADNOC Logistics & Services (ADNOC L&S or the Company), today announced its intention to offer up to 222 million ordinary shares, representing approximately 3% of ADNOC L&S’s issued and outstanding share capital (the Offering). The sale will be conducted through a bookbuilding process targeting eligible institutional investors under Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended (the U.S. Securities Act).
The Offering is exclusively open to Professional Investors (as defined by the UAE Securities and Commodities Authority) within the UAE and institutional investors outside the UAE. It will not be available to the general public in any jurisdiction.
The bookbuilding period for the Offering will begin immediately and is expected to close before market open on August 29, 2025, subject to acceleration. The final number of shares to be placed and the offering price will be determined at the end of the bookbuilding process, with final terms expected to be announced thereafter. Settlement is anticipated on or around September 3, 2025.
The Offering aims to increase liquidity and trading activity in ADNOC L&S shares, broaden the Company’s shareholder base, and potentially pave the way for inclusion in the MSCI Emerging Market Index at the next quarterly review, subject to ADNOC L&S meeting all relevant criteria. Inclusion in the MSCI index would further diversify the investor base and enhance recognition of ADNOC L&S as a leading global energy maritime logistics company.
ADNOC L&S reported record Q2 2025 results, with revenue rising 40% year-on-year and EBITDA up 31% YoY, exceeding market expectations. The Company’s integrated logistics segment demonstrated strong growth even in softer markets, highlighting the value of its strategic diversification and resilient business model. Reflecting this momentum, ADNOC L&S has upgraded its full-year guidance, signaling confidence in delivering sustained shareholder value.
Shares held by ADNOC that are not sold in the Offering will be subject to a six-month lock-up period from the settlement date, with customary carve-outs.
First Abu Dhabi Bank PJSC, J.P. Morgan Securities plc, International Securities LLC, BOCI Asia Limited, and China International Capital Corporation Hong Kong Securities Limited are acting as Joint Global Coordinators and Joint Bookrunners for the Offering.
(Inputs from WAM)
