{"id":71241,"date":"2023-06-05T00:00:00","date_gmt":"2023-06-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/05\/adnoc-ls-share-price-surged-as-much-as-58-on-adx-debut\/"},"modified":"2023-06-05T00:00:00","modified_gmt":"2023-06-05T00:00:00","slug":"adnoc-ls-share-price-surged-as-much-as-58-on-adx-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/05\/adnoc-ls-share-price-surged-as-much-as-58-on-adx-debut\/","title":{"rendered":"Adnoc L&S share price surged as much as 58% on ADX debut"},"content":{"rendered":"

<\/span>Adnoc L&S IPO share price jumps on its trading debut: <\/span>Stock in Adnoc Logistics & Services opened at AED 2.91 on its ADX debut on <\/span>Thursday, rising above the offering price of AED 2.01, which was already at the top end of the initial marketed range, <\/span>Bloomberg<\/a><\/span> reports. Shares jumped throughout the day to as much as 58% above its initial offering price, Emirati state news agency <\/span>WAM<\/a><\/span> reports. Shares settled 56% up at AED 3.13, before falling to AED 3.01 on Friday. <\/span><\/p>\n

The increase in the company\u2019s share price was the third-largest globally this year<\/span> for a listing that generated over USD 500 mn, according to the business information service.<\/span><\/p>\n

Refresher: <\/span>The company\u2019s IPO \u2014 which <\/span>wrapped<\/a><\/span> last week \u2014 raised USD 769 mn, with some 1.41 bn shares, or a 19% stake, sold following a historic book building process that saw shares 163x oversubscribed. The IPO is the second-largest listing in the MENA region this year, after ADNOC Gas\u2019 IPO in March. Due to the significant investor interest, Adnoc had increased the size of the IPO by more than 25%. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The jump in share price was the third-largest globally this year for a listing raising over USD 500 mn<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[183,17,659,228],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71241","post","type-post","status-publish","format-standard","hentry","category-ipo-watch","tag-adnoc","tag-enterprise-logistics","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"d8469523-508b-40a7-9993-5f8025fe5d0d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/37.jpg,https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-l-and-s-expands-its-global-operations-at-philippines-lng-import-terminal","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc L&S makes ADX Debut, with shares soaring 52%","related_issue":[71230],"teaser":"The jump in share price was the third-largest globally this year for a listing raising over USD 500 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.b7bf5dcc-3f93-4e7f-b81e-4f6f9f5fb481.mp3"},"yoast_head":"\nAdnoc L&S share price surged as much as 58% on ADX debut - 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