Adnoc is set to raise up to $2.03bn in the IPO of its newly formed subsidiary Adnoc Gas, after this week valuing the firm at $47-50.8bn. In total, 4% of the firm is being listed on the Abu Dhabi Exchange (ADX), and shares are expected to start trading on 13 March.

Upon completion of the IPO, Adnoc will hold 91%, state energy firm Taqa will hold 5% and the remaining 4% will trade on the ADX. (CONTINUED - 859 WORDS)