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Abu Dhabi National Oil Co. (ADNOC) is seeking to raise about $1 billion from the initial public offering of its shipping and logistics unit. ADNOC, which listed its gas business in March 2023, has added banks EFG Hermes, Credit Agricole SA, Societe Generale SA, Arqaam Capital Ltd., Abu Dhabi Commercial Bank PJSC and International Securities as joint bookrunners on the potential IPO of Adnoc Logistics & Services. Adnoc has been selling stakes in several of its units in recent years as the United Arab Emirates and Saudi Arabia lead a regional drive to fund the diversification of their energy-reliant economies and open up their markets to international investors. 

Abu Dhabi’s Adnoc Seeks About $1 Billion in Logistics Unit IPO

Abu Dhabi National Oil Co. (ADNOC) is seeking to raise about $1 billion from the initial public offering of its shipping and logistics unit. ADNOC, which listed its gas business in March 2023, has added banks EFG Hermes, Credit Agricole SA, Societe Generale SA, Arqaam Capital Ltd., Abu Dhabi Commercial Bank PJSC and International Securities as joint bookrunners on the potential IPO of Adnoc Logistics & Services. Adnoc has been selling stakes in several of its units in recent years as the United Arab Emirates and Saudi Arabia lead a regional drive to fund the diversification of their energy-reliant economies and open up their markets to international investors. 



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