Yesterday, ADNOC Logistics and Services PLC announced that its shares will be included in the MSCI Emerging Markets Index, which monitors large and mid-sized companies across 24 emerging market countries. This inclusion will take effect on November 25.
This milestone follows the successful secondary offering of ADNOC’s shares in August, which raised 1.16 billion dirhams (approximately $317 million) and increased the free float of its shares to nearly 22%. This move significantly boosted the average daily trading volume by more than four times.
Captain Abdulkareem Al Masabi, the company’s CEO, stated that the inclusion of the company’s shares in the index makes ADNOC Logistics and Services the fourth firm within the ADNOC Group to be listed on the MSCI Emerging Markets Index, joining ADNOC Distribution, ADNOC Drilling, and ADNOC Gas. This development enhances ADNOC’s growing presence in global capital markets.