DUBAI: Abu Dhabi National Oil Co. will increase the stake in its gas business being offered in an initial public offering to 5 percent from 4 percent, the state oil giant said on Monday.
ADNOC made the decision "based on significant investor demand across all tranches," it said in a statement.
As a result, the retail tranche of ADNOC Gas has been increased from 10 percent to 12 percent of the offering.
ADNOC also raised the tranche reserved for employees and UAE national retirees of ADNOC Group companies residing in the country to 4 percent from 2 percent.
The remaining 84 percent of the offering has been reserved for institutional investors.
