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).