Abu Dhabi's ADNOC looking to raise up to $607m from IPO of logistics unit

State oil giant Abu Dhabi National Oil Co (ADNOC) said on Tuesday it has set a price range for an initial public offering of its marine and logistics unit that could raise up to $607 million and could give ADNOC Logistics & Services (ADNOC L&S) an equity valuation of as much as $4.05 billion.