Adnoc L&S IPO: How to subscribe to Abu Dhabi-based company's shares for Dh2

Subscription period for the retail tranche is open from May 16 to May 23 and May 24 for qualified investors


Waheed Abbas

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Published: Tue 16 May 2023, 2:06 PM

Last updated: Tue 16 May 2023, 10:14 PM

Adnoc Group on Tuesday said its subsidiary Adnoc Logistics and Services would sell a 15 per cent stake and list on the Abu Securities Exchange (ADX). The company has set the price range of Dh1.99 to Dh2.01 per share for the IPO and could raise as much as Dh2.23 billion.

Below is a guide on how to subscribe to the IPO:

  • What is Adnoc Logistics and Service?

It is a subsidiary of Adnoc Group and a vital logistics services provider, offering specialised services across the energy value chain.

  • How to subscribe to banks?

The leading receiving banks are First Abu Dhabi Bank, Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank and Al Maryah Community Bank.

  • When can I buy Adnoc L&S shares?

The subscription period for the retail tranche is open from May 16 to May 23 and May 24 for qualified investors.

  • Can I subscribe from any of the Adnoc offices?

Yes. Adnoc Group employees and retirees can submit their applications at the receiving centres set up at Adnoc Head Office, Corniche Street, Abu Dhabi; Sheikh Khalifa Energy Complex and Al Ruwais, Abu Dhabi.

  • What is required for retail investors to subscribe to an IPO?

People interested in subscribing to the IPO need an investor number and bank account. The investor number is issued by the Abu Dhabi Securities Exchange.

  • How do I create an investor number (NIN) to subscribe to the IPO?

Investors can apply for the issuance of an investor number on the Abu Dhabi Securities Exchange through one of the following service channels –SAHMI digital platform (for Emirates ID card holders with UAE Pass); accredited brokerage firms; customer service offices at all branches of the Abu Dhabi Securities Exchange;

  • What are the documents required for NIN?

Individual investors require original Emirates ID card. (For UAE citizens and residents holding Emirates identity); Passport and ID card from the country of residence for foreigners not residing in the Emirates and an International Bank Account Number (IBAN) letter, providing that the bank account is solely in the name of the applicant and not a joint bank account.

  • What is per share price?

The price range for the IPO has been set between Dh1.99 to Dh2.01 per share.

  • How many tranches IPO is broken into?

The first tranche is open to eligible individual subscribers and other investors who do not qualify as Professional Investors. 9% of the offer shares, representing up to 99,879,734 Shares, are allocated to the first tranche.

The second tranche is open to eligible professional investors. 88 per cent of the offer shares, amounting to up to 976,601,838 Shares are allocated to the second tranche.

The third tranche is open to Adnoc Group employees including retirees who are UAE nationals. 3 per cent, representing 33,293,245 shares, are allocated to the third tranche.


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