Home GCC UAE ADNOC Drilling sets offer price per share for IPO ADNOC Drilling is expected to list on the ADX on or around October 3, 2021 by Zainab Mansoor September 13, 2021 The Abu Dhabi National Oil Company (ADNOC) has announces that it has set the offer price per share for the initial public offering of ADNOC Drilling Company at Dhs2.30, implying an equity value of $10bn. The offer price was determined by ADNOC, as the selling shareholder, and ADNOC Drilling, following investor engagement that saw strong initial demand indications from both local and international investors, a statement said. The subscription period for the ADNOC Drilling IPO opens today and will close on September 23 for UAE retail investors and on September 26 for domestic and international institutional investors. ADNOC Drilling is expected to list on the Abu Dhabi Securities Exchange (ADX) on or around October 3, 2021. ADNOC Drilling Company has announced its intent to list 7.5 per cent of its shares for trading on ADX earlier this month. Read: ADNOC Drilling Company announces intent to list 7.5% of shares on ADX ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size with 107 rigs, of which 96 rigs are owned and 11 rigs are rented, as of June 30, 2021. It provides customers with a suite of drilling services, including rig hire and certain associated rig-related services in Abu Dhabi and oilfield services (such as integrated drilling, wireline, directional drilling, cementing, pressure pumping, logging and fluids, and hydraulic fracturing). ADNOC Drilling had revenue of $2.097bn, an EBITDA of $959.7m and profit of $569m for the year ended December 31, 2020. For the six months ended June 30, 2021, ADNOC Drilling had revenue of $1.12bn, $499.5m EBITDA and profit of $281.6m. Tags ADNOC Drilling ADX IPO price Share 0 Comments You might also like Abu Dhabi bourse, CASE join hands to boost cooperation PureHealth’s IPO attracts Dhs265bn in orders Saudi Arabia’s MBC Group gets $14.5bn orders for IPO UAE’s Purehealth seeks to raise Dhs3.62bn from IPO