Abu Dhabi's Adnoc to Plan IPO of Gas Stations This Year - Bloomberg

Abu Dhabi's Adnoc to Plan IPO of Gas Stations This Year - Bloomberg:

"Abu Dhabi National Oil Co. plans to sell shares in its gas stations unit this year and list them on Abu Dhabi’s stock exchange, according to a person with knowledge of the matter. Goldman Sachs Group Inc., Morgan Stanley and EFG-Hermes are helping to manage the sale, according to two people with knowledge, asking not to be identified because the information is private. Bank of America Corp., Citigroup Inc., HSBC Holdings Plc and First Abu Dhabi Bank PJSC were hired as underwriters, people familiar with the matter said in July. Goldman Sachs, Morgan Stanley and EFG declined to comment. Adnoc said in a statement that it’s considering selling shares in some of its services business, but it didn’t go into more detail. Adnoc Distribution may seek a value of as much as $14 billion, people familiar with the matter said in July. The company has started meeting with investors and analysts, one of the people said."



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