Abu Dhabi's state gas company expects to raise up to $2 billion by selling 4 per cent of its shares in an initial public offering, the company said Thursday.
The sun rises over the headquarters of the Abu Dhabi National Oil Co. headquarters that dominates the skyline in Abu Dhabi, United Arab Emirates, Nov. 7, 2016. Abu Dhabi's state gas company expects to raise up to $2 billion by selling 4% of its shares in an initial public offering, the company said Thursday.
The Abu Dhabi National Oil Company has access to 95% of the UAE's natural gas reserves, the world's seventh largest. Its gas division, known as ADNOC Gas, supplies more than 60% of the local market and exports to more than 20 countries.
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