Abu Dhabi's ADNOC looking to raise up to $2b from IPO of gas unit

Abu Dhabi's ADNOC looking to raise up to $2b from IPO of gas unit

Photo: Adnoc website

State oil giant Abu Dhabi National Oil Co (ADNOC) said on Thursday it has set a price range for an initial public offering (IPO) of its gas unit that could raise up to $2 billion and give ADNOC Gas an equity valuation of $47 billion to $50.8 billion.