UAE’s Oil Drilling Unit IPO Attracts $34 Billion In Orders 

Abu Dhabi National Oil Company (ADNOC) said on Monday that the initial public offering of its unit ADNOC Drilling attracted $34 billion in total gross demand in the bookbuilding process that raised over $1.1 billion. At the beginning of this month, ADNOC said it intended to list at least 7.5 percent of ADNOC Drilling shares in an initial public offering that could become the largest share sale in the United Arab Emirates (UAE). Later in September, ADNOC raised the share of ADNOC Drilling it would list to 11 percent, which was estimated by analysts…