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ABU DHABI / WAM
Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) successfully listed its shares on the Abu Dhabi Securities Exchange (ADX) on Wednesday following a bell ringing ceremony led by Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO and Hamad Al Shamsi, Chairman of the ADX.
ADNOC Distribution is currently traded on the Abu Dhabi Securities Exchange under the symbol “ADNOCDIST.â€
The IPO of ADNOC Distribution was officially launched on November 13, and forms part of ADNOC’s strategy to manage its business assets and capital more proactively. The successful listing represents a further milestone in this ongoing transformation of ADNOC, and is a tangible example of ADNOC executing the comprehensive value creation strategy it announced in July. The listing will act as a catalyst to unlock value and drive growth for both the wider ADNOC Group and ADNOC Distribution.