ADNOC Logistics and Services welcomed its new shareholders following a successful institutional offering by the ADNOC Group, raising 1.16 billion AED ($317 million) for 222 million shares, which represents 3% of the total equity of ADNOC Logistics and Services.
The offering experienced exceptional demand from investors, being oversubscribed nearly seven times, marking one of the highest rates seen in secondary offerings in the region. This reflects the steadfast confidence investors have in the company’s strategic direction, robust financial position, and future growth prospects.
This transaction will enhance the liquidity of ADNOC Logistics and Services’ shares by increasing the free float from 19% to approximately 22%. It is also set to diversify the company’s shareholder base by attracting more institutional investors and expanding its presence in the Abu Dhabi Securities Exchange, providing a potential pathway for inclusion in the Morgan Stanley Capital International (MSCI) index during the upcoming quarterly review, thereby solidifying its status among global investors.
Captain Abdulkareem Al Masabi, CEO of ADNOC Logistics and Services, stated: “We are grateful to all investors for their enduring trust in ADNOC Logistics and Services. This offering exemplifies the strength and resilience of our business model and our shareholders’ confidence in our long-term strategy. As we celebrate 50 years of excellence in the maritime logistics sector, we remain focused on executing our growth strategy, supporting innovation, and creating sustainable value for our shareholders.”
ADNOC Logistics and Services stands out due to its capability to achieve sustainable profitability and support ADNOC’s aspirations for global growth and energy transition objectives. This is facilitated by future contracts exceeding 95 billion AED ($26 billion), backed by 960 years of assured contracts across integrated maritime logistics services, shipping, and other services.
The strategic expansion of the company’s fleet, including liquefied natural gas carriers and large ethane carriers, underscores its commitment to operational excellence and enhanced service capabilities.
Upon the completion of the offering, ADNOC retains a strategic 78% stake, reaffirming its commitment to support the long-term success of ADNOC Logistics and Services.
With a diverse global client base, 19 offices serving over 100 clients in more than 50 countries, and a strong track record of financial performance, ADNOC Logistics and Services continues to solidify its position as a reliable player in the maritime logistics sector for the global energy industry.
Despite its relatively recent formal establishment through the integration of ADNOC’s shipping and maritime logistics assets, ADNOC Logistics and Services is built on a legacy of nearly five decades of operational excellence. This year, the company celebrates its 50th anniversary, marking a significant milestone in its transformation into a global diversified provider of maritime logistics services for the energy sector.