Abu Dhabi National Oil Company (ADNOC) has successfully completed the placement of approximately 222 million shares in ADNOC Logistics & Services plc (ADNOC L&S) to institutional investors, representing around 3% of the company’s issued share capital. The transaction increases ADNOC L&S’s free float to roughly 22%, enhancing liquidity and broadening its investor base. This move is part of ADNOC’s ongoing strategy to drive long-term shareholder value and achieve MSCI index inclusion for its listed companies.
Since its listing on the Abu Dhabi Securities Exchange in June 2023, ADNOC L&S has demonstrated strong financial and operational growth. The company delivered a total shareholder return of over 170%, and in the first half of 2025, it reported revenue growth of 40% year-on-year and EBITDA growth of 26% to AED 2.7 billion, following AED 4.2 billion in EBITDA in 2024. ADNOC L&S continues to execute its value-accretive growth plan, with AED 95.5 billion in long-term contracted revenues and forward contracts totaling more than 960 years, providing strong visibility and resilience. The company expects high 20% revenue growth and mid-20% EBITDA growth for the full year 2025.
Investor confidence in ADNOC L&S is reinforced by 17 “Buy” recommendations from major local and international financial institutions. The company also upgraded its full-year guidance and reaffirmed a 5% dividend increase to AED 1,053 million for 2025. The institutional placement, priced at AED 5.25 per share, saw exceptional demand with oversubscription levels of around seven times during an accelerated four-hour bookbuild, marking one of the highest levels for a secondary sell-down in the region.
The successful placement strengthens ADNOC’s track record of equity capital market transactions, which have historically unlocked value, attracted international investment, and supported Abu Dhabi’s emergence as a fast-growing financial center. Previous placements for ADNOC Gas, ADNOC Drilling, and ADNOC Distribution have led to MSCI index inclusion and significant growth in trading volume, foreign ownership, and analyst coverage.
ADNOC L&S, ADNOC’s integrated energy maritime logistics and shipping company, provides critical services across ADNOC’s value chain and to over 100 global customers in more than 50 countries. With a modern and diverse fleet comprising over 340 owned vessels and more than 600 chartered annually, the company ensures reliable, cost-efficient, and sustainable energy transportation. The placement further supports ADNOC L&S’s growth ambitions, its role in the UAE’s energy transition, and Abu Dhabi’s position as a global hub for shipping and logistics. ADNOC, as the long-term majority shareholder, remains fully committed to supporting the company’s continued success and delivering sustainable value for all shareholders.
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