ADNOC Distribution to source new international investments in FTSE EM Index
Company will be included in the index from 16 September 2021. Currently, ADNOC retains at least a 70% strategic stake in ADNOC Distribution.
ADNOC Distribution, the UAE’s largest fuel and convenience retailer, will be included in the FTSE Emerging Markets (EM) Index, from 16 September 2021, close of business. Inclusion is subject to final confirmation by FTSE on 6 September, says the company.
The inclusion is expected to increase the attractiveness of ADNOC Distribution’s shares to potential international investors and further diversify the company’s overall investor base as it seeks to deliver on its next phase of expansion, according to a company’s press release.
“Following the inclusion of ADNOC Distribution in the MSCI EM Index in May 2021, the FTSE EM Index marks another important milestone in ADNOC Distribution’s successful equity story. This will continue to enhance the company’s investment appeal and visibility among global investors, attracting more foreign inflows into ADNOC Distribution shares,” said CEO, ADNOC Distribution, Bader Saeed Al Lamki.
Following a series of equity placements in the last two years, ADNOC retains at least a 70% strategic stake in ADNOC Distribution. These transactions diversified the company’s shareholder base and allowed for greater liquidity of its shares on the Abu Dhabi Securities Exchange, concludes the company.
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