After recently being included in the MSCI Emerging Markets Index, ADNOC Gas shares will now be included in the FTSE Emerging Index – part of the FTSE Russell Global Equity Index Series (GEIS) – from September 22.
The company believes the inclusions will enhance its visibility among global institutional investors, broaden its shareholder base, and support liquidity on the Abu Dhabi Securities Exchange (ADX).
The FTSE Emerging Index is widely tracked by international investors and measures the performance of large and mid-cap companies across advanced and secondary emerging markets within the FTSE GEIS. Market analysts estimate that inclusion may result in up to US$250 million in incremental investment.
ADNOC Gas eyes increased liquidity, deeper market penetration, enhanced stock visibility
In February this year, Abu Dhabi National Oil Company (ADNOC) successfully completed the marketed offering to institutional investors of 3.1 billion ordinary shares in ADNOC Gas. This represented 4 per cent of the issued and outstanding share capital of ADNOC Gas and increased the company’s free float to 9 per cent.
Fatema Mohamed Al Nuaimi, Chief Executive Officer of ADNOC Gas, commented: “Joining the FTSE Emerging Index is a strong endorsement of ADNOC Gas’ fundamentals and consistent delivery on our strategy. This achievement reinforces our ambition to diversify our institutional investor base, enhance liquidity, and elevate our global investment profile.
“It follows our recent inclusion in the MSCI Emerging Markets Index and reflects market confidence in our growth trajectory. With a robust pipeline of strategic projects, including US$20 billion in planned capital expenditure, and a clear pathway to deliver over 40 per cent EBITDA growth by 2029 versus 2023, we remain committed to creating long-term, sustainable value for our shareholders.”
With greater exposure to institutional investors, ADNOC Gas expects increased liquidity, deeper market penetration, and enhanced stock visibility – further solidifying its position as a leading energy player in the global market.
ADNOC Gas supplies approximately 60 per cent of the UAE’s sales gas needs and supplies end-customers in over 20 countries.
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