ADNOC Distribution was included in the MSCI EM Index after meeting the necessary requirements and will now be among nine UAE listed companies to be part of the MSCI EM index which is most widely tracked by global institutional investors. The inclusion is expected to increase the attractiveness of ADNOC Distribution's shares to potential international investors and thus further diversifying the Company's investor base.
Ahmed Al Shamsi, Acting Chief Executive Officer of ADNOC Distribution said: 'Being included on the MSCI Emerging Markets Index is an important milestone in ADNOC Distribution's thriving equity narrative. The inclusion is a testament to the company's ability to grow and a reflection of its solid performance and resilience since IPO. We remain focused on delivering strong and stable returns as we continue to grow our international investor base.'
In September 2020, 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%. This placement was the largest block placement of a publicly listed GCC company and leveraged on significant investor demand for ADNOC Distribution shares, driven by its attractive value proposition. This transaction also diversified the Company's shareholder base and allowed for greater liquidity of its shares on the Abu Dhabi Securities Exchange.
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Abu Dhabi National Oil Company for Distribution PJSC published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 05:03:01 UTC.