{"id":69838,"date":"2023-03-27T00:00:00","date_gmt":"2023-03-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/03\/27\/adnoc-to-list-its-logistics-subsidiary-in-june\/"},"modified":"2023-03-27T00:00:00","modified_gmt":"2023-03-27T00:00:00","slug":"adnoc-to-list-its-logistics-subsidiary-in-june","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/03\/27\/adnoc-to-list-its-logistics-subsidiary-in-june\/","title":{"rendered":"ADNOC to list its logistics subsidiary in June"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">State oil giant Abu Dhabi National Oil Company (ADNOC) will float its marine and<\/span><span style=\"font-weight:700\"> logistics arm ADNOC Logistics and Services (ADNOC L&S) in June,<\/span><span> unnamed sources told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/deals\/abu-dhabis-adnoc-gears-up-june-listing-marine-logistics-unit-sources-2023-03-24\/\" style=\"\">Reuters<\/a><\/span><span>. <\/span><span>ADNOC has not made a public announcement on the possible IPO<\/span><span style=\"font-weight:400;\"> and has so far declined to comment on the alleged IPO plans. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Advisors: <\/span><span>Citigroup, JP Morgan, and First Bank of Abu Dhabi (FAB) were hired by ADNOC as advisors for the listing late last year, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/deals\/abu-dhabis-adnoc-gears-up-june-listing-marine-logistics-unit-sources-2023-03-24\/\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">. HSBC has also joined the team of advisors, a source told Reuters. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ADNOC has been on an IPO spree: <\/span><span>The company has been restructuring its operations for the past several years,<\/span><span> in line with Abu Dhabi\u2019s vision to diversify its economy and attract FDI. The company has floated four major subsidiaries in the previous two years: Borouge, Fertiglobe, ADNOC Drilling, and ADNOC Gas. The hydrocarbons giant had listed its gas subsidiary ADNOC Gas in March and raised USD 2.5 bn in 2023\u2019s biggest IPO so far, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-03\/abu-dhabi-s-adnoc-gas-raises-2-5-billion-in-year-s-biggest-ipo\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About ADNOC L&S<\/span><span>: The logistics unit was created in 2016 through a merger of Abu Dhabi National Tanker Co, Petroleum Services Co, and Abu Dhabi Petroleum Ports Operating Co.<\/span><span>The outfit ships crude oil, refined petroleum products, dry bulk, and LNG from Abu Dhabi to trade partners throughout the world. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>State oil giant Abu Dhabi National Oil Company (ADNOC) will float its marine and logistics arm ADNOC Logistics and Services (ADNOC L&#038;S) in June, unnamed sources told Reuters. ADNOC has not made a public announcement on the possible IPO and has so far declined to comment on the alleged IPO plans. Advisors: Citigroup, JP Morgan, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":69839,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[229],"tags":[17],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-69838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterprise-logistics","wpautop","entry"],"acf":{"mongo_id":"0df50e9c-7d30-4d57-9cb4-6e36d4a4dd04","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/433.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[69832],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.ab5fdde8-a91f-46b9-a23c-de24ead5fbcb.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ADNOC to list its logistics subsidiary in June - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/03\/27\/adnoc-to-list-its-logistics-subsidiary-in-june\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADNOC to list its logistics subsidiary in June\" \/>\n<meta property=\"og:description\" content=\"State oil giant Abu Dhabi National Oil Company (ADNOC) will float its marine and logistics arm ADNOC Logistics and Services (ADNOC L&amp;S) in June, unnamed sources told Reuters. ADNOC has not made a public announcement on the possible IPO and has so far declined to comment on the alleged IPO plans. 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