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ABU DHABI NATIONAL OIL COMPANY FOR DISTRIBUTION PJSC

(ADNOCDIST)
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Abu Dhabi National Oil for Distribution : ADNOC DISTRIBUTION INCLUDED IN FTSE EMERGING MARKETS INDEX

08/22/2021 | 01:04am EST

ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE's largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), announced today that it will be included in the FTSE Emerging Markets (EM) Index, from 16 September 2021 (close of business). Inclusion is subject to final confirmation by FTSE on 6 September.

ADNOC Distribution was included in the FTSE EM Index by FTSE Russell after meeting the necessary requirements and will now be part of this widely tracked index, a go-to for global institutional investors. The inclusion is expected to increase the attractiveness of ADNOC Distribution's shares to potential international investors and further diversify the company's overall investor base.

Eng. Bader Saeed Al Lamki, CEO, ADNOC Distribution said: 'Following the inclusion of ADNOC Distribution in the MSCI EM Index in May 2021, the FTSE EM Index marks another important milestone in ADNOC Distribution's successful equity story. This will continue to enhance the company's investment appeal and visibility among global investors, attracting more foreign inflows into ADNOC Distribution shares.

'The inclusion is a testament to the company's growth story and its strong standing within the fuel retail sector. Our continued focus is to provide modern fuel retail convenience to customers, deliver on our ambitious strategy, and build long-term shareholder value through the next phase of our expansion,' he added:

In September 2020, Abu Dhabi National Oil Company (ADNOC) successfully completed a private placement of 1.25 billion of ADNOC Distribution shares (valued at USD 1 billion) to institutional investors, increasing the Company's free-floating equity to 20%. In May 2021, ADNOC placed an additional 3% of ADNOC Distribution's share capital (valued at USD 445 million), increasing free float further to 23%. It also issued approximately USD 1.195 billion of senior unsecured bonds (the 'Exchangeable Bonds') due 2024, exchangeable into existing shares of ADNOC Distribution, constituting approximately 7% of the registered share capital of ADNOC Distribution under certain conditions. Following the transactions, ADNOC will retain at least a 70% strategic stake in the company as it continues to see significant growth potential in ADNOC Distribution

These equity placements leveraged on significant investor demand for ADNOC Distribution shares, driven by its attractive value proposition. These transactions also diversified the company's shareholder base and allowed for greater liquidity of its shares on the Abu Dhabi Securities Exchange.

Disclaimer

Abu Dhabi National Oil Company for Distribution PJSC published this content on 22 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2021 05:03:02 UTC.


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Financials
Sales 2021 20 629 M 5 617 M 5 617 M
Net income 2021 2 244 M 611 M 611 M
Net Debt 2021 3 151 M 858 M 858 M
P/E ratio 2021 22,9x
Yield 2021 4,94%
Capitalization 51 750 M 14 089 M 14 090 M
EV / Sales 2021 2,66x
EV / Sales 2022 2,37x
Nbr of Employees 13 000
Free-Float -
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 4,14 AED
Average target price 4,21 AED
Spread / Average Target 1,69%
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Managers and Directors
Bader Saeed Mohammedd Salem Al-Lamki Chief Executive Officer
Mohamed Al-Hashemi Chief Financial Officer
Sultan Ahmed Sultan Essa Al-Jaber Non-Executive Chairman
Abdulaziz Abdulla Al-Hajri Independent Non-Executive Director
Khaled Salmeen Independent Non-Executive Director
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