{"id":434401,"date":"2021-09-07T08:45:54","date_gmt":"2021-09-07T03:15:54","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=434401"},"modified":"2021-09-07T09:33:14","modified_gmt":"2021-09-07T04:03:14","slug":"uae-oil-producer-adnoc-to-list-drilling-unit-in-abu-dhabi-ipo","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/uae-oil-producer-adnoc-to-list-drilling-unit-in-abu-dhabi-ipo\/","title":{"rendered":"UAE oil producer Adnoc to list drilling unit in Abu Dhabi IPO"},"content":{"rendered":"<p>Abu Dhabi National Oil Co. is planning to sell shares in its drilling unit in what would rank among the largest initial public offerings in the United Arab Emirates. <\/p>\n<p>The company will offer at least 7.5% of Adnoc Drilling, it said on Monday. An IPO could value the business at up to $10 billion, Bloomberg reported earlier this year, citing people familiar with the matter. In 2018, when Baker Hughes bought a 5% stake in Adnoc Drilling, that deal valued it at about $11 billion, including $1 billion of debt. <\/p>\n<p>Given the valuation, a sale of that size could raise about $750 million and Adnoc said it may increase the amount of stock on offer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Dhabi National Oil Co. is planning to sell shares in its drilling unit in what would rank among the largest initial public offerings in the United Arab Emirates. The company will offer at least 7.5% of Adnoc Drilling, it said on Monday. An IPO could value the business at up to $10 billion, Bloomberg reported earlier this year, citing people familiar with the matter. In 2018, when Baker Hughes bought a 5% stake in Adnoc Drilling, that deal valued it at about $11 billion, including $1 billion of debt. Given the valuation, a sale of that size could raise [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-434401","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/434401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=434401"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/434401\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=434401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=434401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=434401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}