Abu Dhabi market's market capitalization to the highest level in its history

With the listing of ADNOC Gas today. UAE share capitalization reaches AED 3.5 trillion

ADNOC Gas has a market capitalization of AED 182 billion. Archival

The market capitalization of the local equity markets is close to AED 3.5 trillion with the listing of ADNOC Gas shares today on the Abu Dhabi Securities Exchange, in line with the markets' plans to double its market capitalization to AED <> trillion in the coming years.

The market capitalization of local shares reached 3.291 trillion dirhams at the end of last Friday's session, and reached 3.473 trillion dirhams at the beginning of today's trading, with the listing of ADNOC Gas with a market capitalization (at the time of acceptance of the listing) of about 182 billion dirhams (50 billion dollars).

The market capitalization of the Abu Dhabi Securities Exchange (ADX) will increase with the listing of ADNOC Gas from AED 2.702 trillion at the end of last Friday's session to AED 2.884 trillion, approaching the AED <> trillion barrier for the first time in its history, as markets attract more IPOs, in a move aimed at strengthening its position at the regional and global levels, and doubling its market value.

ADNOC Gas' shares will be listed on the Abu Dhabi Securities Exchange (ADX) today, following the successful completion of the price building and IPO, with the final offer price set at AED 2.37 per share.

The IPO price range was previously set between AED 2.25 and AED 2.43 per share, meaning that the offering was priced within the highest levels of the previously announced offer price range in relation to the offering, following high demand from local and international investors, and based on the final offer price, the total size of the offering is approximately $ 2.5 billion (AED 9.1 billion). ADNOC Gas' IPO will be the world's largest IPO to date in 2023 and the largest ever listing on the Abu Dhabi Securities Exchange (ADX), surpassing the IPO of another ADNOC Group company, Borouge plc, which was successfully listed on the Abu Dhabi market on June 2022, <>.

ADNOC Gas' IPO saw record ordering, marking the highest ever total IPO in the MENA region to date, with the book-building price building achieving a total value of more than $124 billion (equivalent to more than AED 450 billion).

This historic listing of the fifth company, which ADNOC has offered for public over the past few years, underscores the unique interest of the investor segment, underscores the attractiveness of ADNOC's world-class assets and low-carbon energy asset base, and contributes to Abu Dhabi's leading position as a preferred investment destination for global capital.