Abu Dhabi – Mubasher: The last day for individual investors to subscribe for ADNOC Distribution’s shares will be on Wednesday, 6 December.
Meanwhile, the last day for subscription by institutional investors will be on Thursday, 7 December, as reported by Gulf News.
A stake ranging from 10% to 20% of ADNOC Distribution’s shares was offered for an initial public offering (IPO) that opened on 26 November.
A minimum of 1.25 billion ordinary shares of ADNOC’s unit was offered for subscription, with a maximum stake of 2.5 billion ordinary shares; the price ranged from AED 2.35 to AED 2.95 a share.
ADNOC Distribution is expected to list on the Abu Dhabi Securities Exchange (ADX) on 13 December.
Analysts told Mubasher earlier that the subscription for ADNOC Distribution’s shares was forecast to attract a large number of different investors in line with the attractive price of the par value.
