Abu Dhabi's ADNOC to Boost Liquidity of Gas Business

Abu Dhabi’s national oil company ADNOC on Thursday launched a share offering of 4% of the capital of its ADNOC Gas business to boost liquidity and the free float of its gas unit which was listed in 2023.  ADNOC, which currently owns 90% of ADNOC Gas, announced its intention to offer approximately 3.1 billion shares through a marketed offering to institutional investors. The offering, which begins immediately and is expected to close on February 21, 2025, is subject to acceleration of closing at ADNOC’s sole discretion. In the offer,…