ADNOC L&S to boost free float & investor base

ABU DHABI – ADNOC Logistics & Services (ADNOC L&S) has successfully completed a $317 million institutional placement of 222 million shares — representing 3 per cent of its total capital, informed Captain Abdulkareem Al Masabi, CEO of ADNOC L&S. The transaction, executed by ADNOC Group, was around seven times oversubscribed — marking one of the most in-demand secondary offerings in the region. The move raises ADNOC L&S’s free float from 19 per cent to 22 per cent, enhancing stock liquidity and positioning the company for potential inclusion in the MSCI Index. ADNOC retains a 78 per cent stake, reinforcing its long-term commitment. “We are delighted to welcome our new shareholders and grateful for the trust placed in ADNOC L&S,” he added.