After not too long ago being included within the MSCI Rising Markets Index, ADNOC Fuel shares will now be included within the FTSE Rising Index – a part of the FTSE Russell World Fairness Index Sequence (GEIS) – from September 22.
The corporate believes the inclusions will improve its visibility amongst international institutional buyers, broaden its shareholder base, and help liquidity on the Abu Dhabi Securities Trade (ADX).
The FTSE Rising Index is broadly tracked by worldwide buyers and measures the efficiency of huge and mid-cap firms throughout superior and secondary rising markets inside the FTSE GEIS. Market analysts estimate that inclusion could lead to as much as US$250 million in incremental funding.
ADNOC Fuel eyes elevated liquidity, deeper market penetration, enhanced inventory visibility
In February this 12 months, Abu Dhabi Nationwide Oil Firm (ADNOC) efficiently accomplished the marketed providing to institutional buyers of three.1 billion abnormal shares in ADNOC Fuel. This represented 4 per cent of the issued and excellent share capital of ADNOC Fuel and elevated the corporate’s free float to 9 per cent.
Fatema Mohamed Al Nuaimi, Chief Government Officer of ADNOC Fuel, commented: “Becoming a member of the FTSE Rising Index is a powerful endorsement of ADNOC Fuel’ fundamentals and constant supply on our technique. This achievement reinforces our ambition to diversify our institutional investor base, improve liquidity, and elevate our international funding profile.
“It follows our latest inclusion within the MSCI Rising Markets Index and displays market confidence in our progress trajectory. With a sturdy pipeline of strategic tasks, together with US$20 billion in deliberate capital expenditure, and a transparent pathway to ship over 40 per cent EBITDA progress by 2029 versus 2023, we stay dedicated to creating long-term, sustainable worth for our shareholders.”
With larger publicity to institutional buyers, ADNOC Fuel expects elevated liquidity, deeper market penetration, and enhanced inventory visibility – additional solidifying its place as a number one power participant within the international market.
ADNOC Fuel provides roughly 60 per cent of the UAE’s gross sales gasoline wants and provides end-customers in over 20 nations.
