Investor Appetite Fuels Oversubscribed $317 Million ADNOC L&S Placement

ADNOC Logistics and Services plc has secured strong institutional backing through a $317 million placement of approximately 222 million shares-equivalent to about 3 percent of its issued capital-with demand reaching seven times the offering, ranking among the region's most heavily oversubscribed secondary share sales.

The transaction lifts ADNOC L&S's free float from 19 percent to 22 percent, significantly enhancing trading liquidity and widening its appeal to institutional investors on the Abu Dhabi Securities Exchange. Retaining roughly 78 percent ownership, ADNOC signals continued confidence in its logistics arm while paving the way for broader investor participation.

The accelerated bookbuild, completed over four hours, drew“exceptional demand” from both Gulf-based and international institutional investors-underscoring robust market trust in ADNOC L&S's strategic trajectory and operational strength.

At AED 5.25 per share-marking a tight discount relative to prevailing market levels-the placement is widely viewed as well priced in a competitive regional market. The favourable pricing, coupled with demand levels, underscores investor conviction in the company's long-term financial resilience and growth potential.

This sale aligns with ADNOC's unfolding strategy of staged divestments. After ADNOC L&S's IPO in mid-2023 raised $769 million, and a gas unit placement in February fetching $2.84 billion, this transaction further diversifies ADNOC's capital structure while preserving substantial ownership control.

Chief Financial Officer Khaled Al Zaabi emphasised that the offering“reinforces our commitment to delivering long-term value for shareholders” and supports ADNOC's broader aim of achieving MSCI index inclusion for its listed entities-statements echoed across public disclosures.

ADNOC L&S's performance has lent momentum to this confidence. In H1 2025, revenue surged by 40 percent year-on-year, while EBITDA climbed approximately 26 percent to reach AED 2.7 billion-a significant leap from the $744 million equivalent previously reported. Forward-looking contracts now total AED 95.5 billion, with the company targeting high-20 percent revenue growth and mid-20 percent EBITDA growth through 2025.

Secured contracts across Integrated Logistics, Shipping, and Services segments now span 960 contract-years globally. ADNOC L&S continues to expand its fleet-including LNG carriers and very large ethane carriers-while serving over 100 customers across more than 50 countries, furthering its appeal as a dependable maritime logistics partner.

Analyst sentiment is strong: all covering institutions assign“Buy” ratings to ADNOC L&S shares, reinforcing external confidence in the company's value proposition.

With increased free float, improved liquidity, and path cleared toward MSCI index inclusion, ADNOC L&S stands positioned for elevated international visibility, with implications for higher trading volumes and expanded investor interest.

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