The move comes after investors snapped up all available shares within hours of them going on sale last week. Abu Dhabi National Oil Co. will now offer 3.84 billion shares, or a stake of about 5%, in Adnoc Gas in the IPO, according to a statement on Monday. It was previously looking to sell 4%.
The price range remains unchanged at 2.25 dirhams ($0.61) to 2.43 dirhams per share, valuing the company at as much as $50.8 billion. The retail offering was boosted to 12% of the total deal while the employee tranche was increased to 4%.
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