ADNOC, the other Mideast oil IPO

While everyone's focused on the Aramco IPO ... what's happening with the Abu Dhabi National OIl Co. IPO? They said they were moving forward in mid-November to sell 2.5 billion shares?

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I understood they were going to sell as much as 20% and shares were supposed to start trading on the 13th ... haven't kept up with it

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see it's still on track for the 13th, and looks fairly attractive because Adnoc Distribution (the unit up for sale) is said to be less vulnerable to oil prices ... 

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yeah, only on the Abu Dhabi exchange. They raised $851 million. First ADX IPO in six years, and nothing this big in Abu Dhabi for 10 years. 

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but they only sold 10%, not 20% of ADNOC Distribution. Shares role sat the open by 0.79 cents on the 13th.

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