ABU DHABI, March 3 (Reuters) - Abu Dhabi National Oil Co
(ADNOC) released the final pricing for its gas business IPO on
Friday, setting the price at 2.37 dirhams per share, towards the
higher end of a range earlier indicated.
The state oil giant announced on Feb. 27 it would increase
the stake offered to investors in the initial public offering
(IPO) of ADNOC Gas to 5% from 4% due to strong demand for the
deal.
Proceeds raised from the IPO amounted to $2.5 billion, a
company statement said, implying a market capitalisation of
about $50 billion.
ADNOC Gas is expected to list and begin trading on March 13.
(Reporting by Rachna Uppal; Editing by Edmund Klamann)
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