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Emirates News Agency – Shares of ADNOC Distribution will be added to the FTSE Emerging Markets Index on September 16th

Date:

Abu Dhabi, 22 August / WAM / ADNOC Distribution The FTSE today announced the inclusion of its shares in the Emerging Markets Index, when trading ends on September 16, 2021.

Adding shares of ADNOC Distribution to the FTSE Emerging Markets Index comes after fulfilling all the conditions for inclusion, as it will now become part of this index, which is considered the starting point for global investment firms, making ADNOC distribution shares attractive to investors. Foreigners, and contributes to the diversification of the company’s investor base.

Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: “ADNOC Distribution was added to the FTSE Emerging Market Attendance in the Morgan Stanley Capital International Emerging Markets Index in May 2021, marking another milestone in the company’s success. This will increase the attractiveness of the company for investment. It will also contribute to its position among international investors, and to increase the flow of foreign investment in ADNOC distribution stocks.

He added: “This list marks the company’s successful growth path and its firm position in the fuel delivery industry. We will focus on improving and modernizing the customer shopping experience and implementing our ambitious strategy.

In September 2020, the Abu Dhabi National Oil Company (ADNOC) successfully completed a private employment process for 1.25 billion shares (worth US $ 1 billion) of “ADNOC Distribution” companies. ADNOC provided an additional 3% of the ADNOC distribution (value of US $ 445 million) in registered capital, which increased the free float to 23%.

The process led to ADNOC issuing unsecured securities (redeemable securities for shares) with approximately $ 1.195 billion. These securities represent 7% of the registered capital of the ADNOC distribution and are due in 2024. Bonds can be exchanged for shares in ADNOC distribution under special conditions.

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After the transaction, ADNOC maintains at least 70% strategic stake in ADNOC Distribution, which has the potential to grow.

Stock offers benefited from the high demand of shareholders for shares of ADNOC Distribution, which is the reason for the attractive return on its shares. These deals led to the expansion of the company’s investor base and increased cash flow for its shares in Abu. Tabi Bonds Exchange.

WAM / Ahmed Al Nuaimi / Reda Abdel Nour

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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