ADNOC IPO

Abu Dhabi National Oil Company (ADNOC) is raising nearly $2.5 Billion on the back of heavy demands via an IPO. ADNOC will be selling 5% stake of its Gas unit. This would be making it 2023's largest IPO so far. The size of the IPO increased from 4% to 5% based on the positive response which they got from the market.