DUBAI, June 1 (Reuters) – Shares of Abu Dhabi-based ADNOC Logistics & Services rose 44.8% above its listing price in its IPO on Thursday after raising $769 million for 19% of the deal in an IPO had.
Shares were trading at AED2.91 as the Abu Dhabi market opened at an IPO price at the top end of the indicative range of AED2.01 per share.
ADNOC L&S exports Crude Oil, Refined Products, Dry Bulk and LNG from Abu Dhabi.
It was formed in 2016 from a merger between Abu Dhabi National Tanker Co, Petroleum Services Co and Abu Dhabi Petroleum Ports Operating Co.
Reporting by Hadeel Al Sayegh; Edited by Jason Neely
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