Adnoc Gas has raised the size of its initial public offering — already set to be the world’s largest so far this year — to as much as $2.5 billion amid heavy demand.
(Bloomberg) —
Adnoc Gas has raised the size of its initial public offering — already set to be the world’s largest so far this year — to as much as $2.5 billion amid heavy demand.
The company will now offer 3.84 billion shares, or a stake of about 5%, according to a statement on Monday. It was previously looking to sell 4%.
There has been “significant investor demand across all tranches,” Adnoc Gas said. The price range remains unchanged at between 2.25 and 2.43 dirhams.
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