The Abu Dhabi National Oil Company, known as ADNOC, has successfully completed a targeted institutional offering of approximately 222 million shares of ADNOC Logistics and Services PLC, raising about 1.16 billion dirhams, which corresponds to roughly 3% of the company’s total issued capital.
This move underscores ADNOC’s ongoing commitment to generating sustainable investment value for its shareholders and advancing its strategy to list its shares on the Morgan Stanley Capital International (MSCI) index.
The offering is expected to enhance the liquidity of ADNOC Logistics and Services shares by increasing the free float to around 22%, while also diversifying its shareholder base.
ADNOC anticipates that this offering will pave the way for a potential listing of the company’s shares on the MSCI index, thereby raising awareness among local and international investors about ADNOC Logistics and Services’ significant value as a leader in global maritime logistics for the energy sector.
Since its listing on the Abu Dhabi Securities Exchange in June 2023, ADNOC Logistics and Services has experienced significant growth, consistently delivering strong operational and financial results, with a total shareholder return exceeding 170%.
The company reported record financial results for the first half of 2025, with revenues increasing by 40% year-on-year, and EBITDA rising by 26% to 2.7 billion dirhams. This marks nearly double the profit levels at the time of its market entry, reaching 4.2 billion dirhams by the end of 2024. The results reflect the effectiveness of its strategy to diversify and ensure the resilience of its business model.
ADNOC Logistics and Services continues to execute its ambitious business strategy, bolstered by long-term contracted revenue of 95.5 billion dirhams, which promises stability and a clear vision for future business plans.
The firm is also on track with its growth-oriented investments, aiming for an annual revenue growth rate of up to 20% for 2025, alongside a mid-range growth target of 20% for EBITDA during the same timeframe.
A consensus among 17 analysts from local and international financial institutions covering ADNOC Logistics and Services recommends a “buy” status for its shares, highlighting the company’s operational strength and reliability.
Additionally, the company has revised its guidance for 2025, raising its annual dividend by 5% to 1.053 million dirhams, in line with the dividends announced at the time of its initial public offering.
ADNOC Logistics and Services holds a leading position that allows it to consistently deliver sustainable returns to investors, supported by ADNOC’s majority ownership in the long term.
The offering saw substantial demand from institutional investors across the Gulf Cooperation Council and internationally, with total demand exceeding the target value by approximately seven times during the four-hour order book period, marking one of the highest subscription rates seen in secondary offerings in the region.
The offering price was set at 5.25 dirhams per share, representing the lowest discount ever for a secondary offering in the area. This initiative adds significantly to ADNOC’s global track record in capital markets transactions, which continuously contribute to creating and enhancing value for investors while attracting international investments, and solidifying Abu Dhabi’s status as one of the fastest-growing financial hubs worldwide.
Previous offerings by ADNOC Gas, ADNOC Drilling, and ADNOC Distribution also successfully led to their inclusion in the MSCI index and saw a fivefold increase in average daily trading volumes, with over double the average foreign investor ownership, alongside a more than 40% increase in analyst coverage.
This latest offering is set to aid the development of capital markets within the UAE, reinforcing the nation’s position as a leading and reliable destination for global capital.
In a statement, Khaled Al-Zaabi, Chief Financial Officer of ADNOC Group, expressed excitement over the successful institutional offering of ADNOC Logistics and Services, highlighting the exceptional interest from both local and international investors, where overall demand surpassed the target amount by roughly seven times during the offering period.
He emphasized that this offering reaffirms the commitment to creating sustainable investment value for shareholders in the long term while supporting the overarching strategy aimed at ensuring the listing of their companies within global indices.
Moreover, he pointed out that the offering will raise the company’s free float from about 19% to nearly 22%, enhancing share liquidity and diversifying the shareholder base, along with establishing a clear path for its shares to be included in the MSCI index. ADNOC, through its majority ownership, will continue to be dedicated to supporting ADNOC Logistics and Services in executing its ambitious growth plans and emphasizing the creation and enhancement of long-term shareholder value.
ADNOC Logistics and Services serves as ADNOC’s integrated logistics arm for the energy and shipping sectors, offering secure, reliable, and effective maritime and logistical solutions across various stages and areas of the value chain for over 100 global clients in more than 50 countries.
With a fleet of over 340 owned vessels and more than 600 chartered vessels per year, ADNOC Logistics and Services plays a vital role in reliably and cost-effectively sustaining energy supplies to global markets.
The company significantly contributes to accelerating ADNOC’s growth strategy and supports the UAE’s efforts to transition in the energy sector, solidifying Abu Dhabi’s position as a global hub for shipping and logistics services.
As a majority stakeholder, ADNOC is committed to ensuring the continuing success and development of ADNOC Logistics and Services and supporting its growth ambitions.