The UAE Expects More Listings After Blockbuster Natural Gas IPO

Abu Dhabi could see up to eight more listings this year after what became the largest initial public offering in the world since the start of the year when ADNOC listed its natural gas business unit.
ADNOC raised $2.5 billion from the listing last week, with the offering 50 times oversubscribed and investors placing orders for $124 billion in total. The issue was fully subscribed just hours after the offering was first announced.
The listing gave the company a market capitalization of some $50 billion, close to the upper end of the price range set by the parent company ahead of the listing.