Finance

Adnoc raises $1.1 billion through IPO of its drilling subsidiary

Company says total gross demand for the IPO amounted to over $34 billion and oversubscription level in excess of 31 times

IPO plans: Sultan Ahmed Al Jaber, the chief executive of Abu Dhabi National Oil Company
IPO plans: Sultan Ahmed Al Jaber, the chief executive of Abu Dhabi National Oil CompanyPhoto: REUTERS/SCANPIX
  • Nishant Ugal
New Delhi
Abu Dhabi National Oil CompanyAdnoc DrillingUnited Arab EmiratesMiddle EastUmm Shaif
Published 28 September 2021, 02:41Updated 28 September 2021, 02:41