The Abu Dhabi National Oil Company (ADNOC) is eyeing a valuation of at least $50 billion for its gas business slated to float this quarter, two sources familiar with the matter said, setting the stage for one of the most highly anticipated stock market listings this year.
The state oil giant announced in November it was combining its gas processing arm and its liquefied natural gas subsidiary into a single listed entity.
ADNOC is eyeing a valuation of at least $50 billion for ADNOC Gas, though deliberations over valuations have not finalised and the company is yet to determine the size of the offering, said the sources close to the matter, declining to be named as the matter is not public. They said an initial public offering of ADNOC Gas could launch as soon as February, ahead of a slowdown in market activity during the Muslim fasting month of Ramadan which begins end of March.The company is sharpening its focus on the gas market as Europe seeks to replace all Russian energy imports as early as mid-2024 after gradual supply cuts since Western sanctions were imposed on the country over its invasion of Ukraine.
At $50 billion and above, ADNOC Gas' valuation would be broadly comparable to Italian energy group Eni
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Where you can wine taste in Napa Valley for $50 or lessGoing wine tasting in Napa Valley doesn't have to be expensive.
Les mer »
$50 AirPods Pro? Nope. Here’s How to Spot Fake Apple Earbuds.Apple’s tiny white earbuds are so popular, counterfeits are now available at tempting prices. Here’s how to look out for the fakes.
Les mer »
Amazon Prime ends free grocery delivery on orders under $150Currently, the company offers members free grocery deliveries on orders above $35, with the exception of New York, where it’s $50.
Les mer »
With tiny EV, City Transformer takes aim at Europe's urban marketsIsraeli electric vehicle (EV) startup City Transformer aims to launch production of its small urban CT-2 model in Western Europe by the end of 2024 and will soon launch a Series B funding round to raise $50 million, the company said on Monday.
Les mer »
NFL betting: Bettor places $300K bet on Bengals to score at least 24 vs. the ChiefsA bettor is very confident in the Bengals' ability to score at least three touchdowns on Sunday in the AFC Championship against the Chiefs.
Les mer »
Most and least reliable types of carSome types of car suffer a multitude of faults, while others remain utterly dependable. We examine the reliability of 12 car classes and reveal the best and worst model in each
Les mer »