Adnoc Unit IPO to Raise $902 Million After Narrowing Range - Bloomberg:
"Abu Dhabi National Oil Co. plans to raise as much as 3.31 billion dirhams ($902 million) from the initial public offering of its fuel-retailing unit after lowering the top end of the offer price and deciding to only sell a 10 percent stake.
The crude producer reduced the price range to 2.35 dirhams to 2.65 dirhams for the shares of Abu Dhabi National Oil Co. for Distribution PJSC, according to terms seen by Bloomberg News. The initial price range was 2.35 dirhams to 2.95 dirhams. The company initially planned to sell as much as 20 percent.
The offering is covered throughout the revised price range, according to the document."
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