Abu Dhabi state investment house Mubadala plans to float 25% of its wholly-owned Spanish integrated petroleum firm Cepsa on the Madrid, Barcelona, Bilbao and Valencia stock exchange during the fourth quarter of 2018.

The initial public offering (IPO) will value the company at around €10bn ($11.7bn), according to various independent assessments, implying that Abu Dhabi can expect to raise just under $3bn for a 25% stake. Cepsa plans to triple its value by 2030. (CONTINUED - 1450 WORDS)