Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will be listed in the FTSE Emerging Markets (EM) Index from 16 September 2021.
Subject to the final approval of FTSE on 6 September, the inclusion would raise the attention of potential international investors towards ADNOC Distribution’s shares and further diversify its investor base, according to a press release on Sunday.
The UAE-based fuel and convenience retailer was included in the index by FTSE Russell after meeting the necessary requirements.
The CEO of ADNOC Distribution, Bader Saeed Al Lamki, said: "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."
Al Lamki added: "Our continued focus is to provide modern fuel retail convenience to customers, deliver on our ambitious strategy, and build long-term shareholder value through the next phase of our expansion."
It is noteworthy to mention that in May 2021, ADNOC sold around 375 million shares, equivalent to 3% of its registered share capital in ADNOC Distribution, through an accelerated bookbuild offering.
