ADNOC offers 3% stake in logistics unit for sale

DUBAI, Aug 28 (Reuters) - Abu Dhabi National Oil Company (ADNOC) said on Thursday it had offered for sale a stake of about 3 percent in its ADNOC Logistics and Services unit through a bookbuilding process.

ADNOC added in a statement that the 222 million shares will be offered to professional investors in the UAE and to institutions elsewhere.

The deal is expected to increase the free float of ADNOC Logistics and Services shares to 22 percent and enhance the trading liquidity of the unit's shares.


(Prepared by Salma Najm for the Arabic edition - Edited by Rehab Alaa)

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