Abu Dhabi – Mubasher: The individual tranche in the Abu Dhabi National Oil Company’s (ADNOC) distribution unit was oversubscribed by 2000%, and yielded $3 billion, informed sources told Mubasher on Thursday.
Both of the individual and the institutional tranches of the IPO represent 10% of ADNOC’s unit, and were covered at the new price range, which was shrunk to AED 2.35 from AED 2.65 per share on 6 December, some sources added.
The distribution unit’s IPO price range was between AED 2.35 and AED 2.95, according to the company’s prospectus.
