The sale of shares comes within days after Morgan Stanley Capital International (MSCI) announced that Adnoc Distribution had been included as part of th.
Agthia employs more than 4,000 people and owns the Al Ain water, Grand Mills bakery and the Agrivita animal feed brands, among others, It plans to add other brands to further expand its portfolio.
In April, Agthia announced a five-year strategy to become the biggest food and beverage company in the region by 2025.
The food and beverage company s inclusion comes after Adnoc Distribution said this month it is joining MSCI Emerging Markets index on May 27.
The UAE s largest fuel retailer will join nine other UAE-listed companies including some of the biggest banks and property developers that are part of an index tracked by funds with billions of dollars worth of assets.
Adnoc considers to offer around 375m shares in distribution unit
26 May 2021 The sale supports Adnoc’s commitment to increase the free float in Adnoc Distribution following the company’s IPO in December 2017. Abu Dhabi National Oil Company (Adnoc) together with its subsidiaries, the Adnoc Group, the current holder of 80 per cent of the common shares in Abu Dhabi National Oil Company for Distribution (Adnoc Distribution), announced on Wednesday its intention to offer approximately 375 million shares (the Shares).
The shares correspond to approximately three per cent of the registered share capital of Adnoc Distribution (the Share Offering), through an accelerated bookbuild offering at an offer price of Dhs4.36 per share to certain eligible institutional investors in reliance on Rule 144A and Regulation S of the US Securities Act of 1933, as amended (the US Securities Act).
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