Abu Dhabi National Oil Company (ADNOC) has gathered two dirhams or 1.64 billion dollars, by issuing replaceable bonds and additional shares for investors in its ADNOC distribution unit.
According to Arab Net, ADNOC issued first-class securities worthy of 2024, with an annual return of 0.7%, substantial shares in ADNOC for distribution.
In addition, ADNOC has raised 375 million shares in ADNOC for distribution to eligible investment institutions, by a record of subscription orders.
ADNOC said in a statement that the final sale price of 4.82 dirhams for the share was determined, representing an increase of 5.7% on the average arrow price for the last three months.
The compound subtraction was covered in less than an hour and saw a strong request by regional and global investors.
The deal also provides the possibility of increasing free trading for ADNOC shares by 30%, if all bonds are replaced by actual shares.
She confirmed that the issuance of substantial bonds was evaluated at ADNOC for distribution at 100%, where the replacement rate was determined at AED 5.01 according to specific conditions.
The company said in a statement earlier. This would enable them to liberalize and liberalize more of its assets, while the free depression of Adenok is also increased for distribution and promotes liquidity in its shares and diversity of its shareholders.
ADNOC has included 10% of ADNOC distribution, the largest operator for fuel stations and retail stores in the Abu Dhabi Securities Market in 2017.
Other 10% of its shares in ADNOC were sold last year in the launch of investment institutions.
ADNOC has been launched over the past few years, a series of initiatives to establish partnerships with foreign investors and valuable extraction from its assets, while the giant of Abu Dhabi prepares for a new era of low oil prices.
