Abu Dhabi National Oil Company (ADNOC) today announced that it has successfully completed a placement to institutional investors of c.222 million shares in ADNOC Logistics & Services plc (ADNOC L&S), representing approximately 3% of the company’s issued share capital.

The Offering highlights ADNOC’s continued focus on driving long-term shareholder value and execution of its strategy to achieve MSCI index inclusion for its listed companies. The transaction improves the liquidity in ADNOC L&S’s shares by increasing its free float to c.22% and further diversifies the Company’s investor base.

The offering is expected to pave the way for potential MSCI indexation, increasing international and domestic investor awareness of ADNOC L&S’s differentiated proposition as leader in global energy maritime logistics.

ADNOC L&S has seen impressive growth since listing on the ADX in June 2023, delivering a consistently strong financial and operating performance with total shareholder return (TSR) in excess of 170%.

In the first half of 2025, the company reported record results with revenue increasing 40% year-on-year and EBITDA growing 26% to AED 2.7 billion, having reached EBITDA of AED 4.2 billion in 2024, doubling since the time of its IPO, demonstrating the value of the Company’s strategic diversification and resilient business model.

ADNOC L&S continues to make great progress on delivering its value-accretive growth plan, with AED 95.5 billion of long-term contracted revenues and forward contracts totaling more than 960 years, providing visibility and resilience. Growth investments remain on track, with ADNOC L&S targeting high 20%’s year-on-year revenue growth for 2025 and mid- 20%’s EBITDA growth in 2025.

Commenting on the pricing of the offering, Khaled Al Zaabi, Group Chief Financial Officer, ADNOC, said: “Following exceptional demand from both local and international investors, with oversubscription levels of approximately 7x during an accelerated bookbuild of just four hours, we are delighted to announce the successful completion of our AED1.16 billion institutional placement of ADNOC L&S shares. This Offering reinforces our commitment to delivering long-term value for shareholders and supports the execution of our broader strategy to achieve index inclusion of our listed companies. As a result of the placement, ADNOC L&S’s free float will increase from c.19% to c.22%, improving its trading liquidity, further diversifying the company’s shareholder base and providing a clear pathway towards MSCI index inclusion.”