Adnoc Distribution IPO to spur more listings in energy sector | GulfNews.com:
"The successful listing of Adnoc Distribution on Abu Dhabi bourse is likely to encourage more energy companies from the region to go public to raise capital as low oil prices hurt their revenues, according to analysts. Adnoc Distribution, the fuel and retail arm of Abu Dhabi National Oil Company (Adnoc) was listed on Abu Dhabi Securities Exchange (ADX) on December 13 with the stock opening at Dh2.90 compared to the final IPO price of Dh2.50, a 16 per cent increase. Both local and international investors showed strong interest in the IPO (initial public offering) and the company raised Dh3.1 billion after it offered 10 per cent of its shares."
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