Abu Dhabi National Oil Company (ADNOC) has announced that its acquisition of OCI’s 50 per cent + 1 share stake in Fertiglobe, which was announced in December 2023, has received all required approvals and is expected to close on Tuesday, October 15.
Following the completion of the transaction, ADNOC’s shareholding in Fertiglobe will increase to 86.2 per cent, while the free float traded on ADX will remain at 13.8 per cent.
Management will host an investor and analyst webcast on Tuesday, October 15, where the company’s vision to unlock further growth and value will be presented.
ADNOC to close Fertiglobe share stake
Details of the webcast will be announced by Fertiglobe in due course.
On Friday, the Abu Dhabi Securities Exchange (ADX) saw 44 large direct deals executed on the stock of Fertiglobe.
According to market data, the trade was executed on 4.15bn shares with a value of AED13.28bn ($3.6bn) at an execution price of AED3.2 per share.
Large direct transactions are deals executed outside the order book and do not affect the closing price of the company’s shares or the price index.
They also do not affect the highest and lowest prices executed during the session and over the past 52 weeks.
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