December 11, 2023

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Buyers can begin subscribing for UAE’s newest IPO – ADNOC Logistics & Providers – Could 16

1 min read

On the dividend facet, ADNOC L&S plans paying $195 million for the second quarter and the second-half of 2023.  That is equal to annualized dividends of $260 million for 2023.

Within the payout, $65 million is for Q2-23 and must be paid within the fourth quarter of 2023. The $130 million left is for H2-23 and to be paid within the second quarter of 2024.

“Because the sixth firm ADNOC is bringing to market, ADNOC L&S is ideally positioned to drive efficiency, ship worth, and capitalize on each ADNOC’s bold progress roadmap and the rising international demand for lower-carbon, dependable vitality provides,” stated Khaled Al Zaabi, Group Chief Monetary Officer, ADNOC.

ADNOC L&S intends to pay dividends twice a 12 months, with the preliminary fee on the first-half outcomes set for the fourth quarter of the 12 months. One other fee will observe after the second-half outcomes, to be paid within the second quarter of the next calendar 12 months.

ADNOC is promoting 15 per cent within the entity, and with the IPO worth to be confirmed after a book-building run.

ADNOC L&S is focusing on a capex of $4 billion to $5 billion within the medium time period. That is meant to:

• Develop relationships with, and scope of companies supplied to, current and new purchasers, together with within the delivery enterprise unit and thru the growth of ADNOC L&S’ built-in logistics companies platform companies.

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