FTSE adds Adnoc Drilling to three indices as board approves growth plans after IPO
Index publisher FTSE Russell added Adnoc Drilling to three of its global equity indices as the company's board approved its growth plans following its 11 per cent share sale in a public offering.
Its shares made their debut earlier this month on the Abu Dhabi Securities Exchange, surging 33 per cent during the first day of trading on October 3. The market value of the company, a subsidiary of the Adnoc Group, was about $13 billion as of Sunday morning trading.
The board approved Adnoc Drilling's five-year business plan for 2022 to 2026, as well as its budget for the next financial year.
"Adnoc Drilling will continue to play a pivotal and leading role in enabling Adnoc's ambitious production capacity growth plans, underpinned by the core resolutions adopted at the inaugural board meeting post listing, including the company’s robust business plan, focused on sustained and enhanced growth," said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc.
No comments:
Post a Comment