Shares of a Gulf company are among the best listed companies in 2023 globally
08-29-2023 10:47 AM
The shares of the Emirati company, “ADNOC for Logistics and Services”, ranked second as the most profitable stock among the companies that conducted a public subscription in 2023, as shares rose by more than 80%, according to data collected by “Bloomberg” until August 28.
The Indonesian mining company “Aman Mineral” came in first place, after its shares rose by about 153% since the start of trading its shares on July 7, which is considered the largest gain among the 32 initial public offerings that have raised at least $ 500 million each so far. globally.
The company’s shares, listed on the Abu Dhabi Stock Exchange, rose in its first trading session at the beginning of last June by 55.7%, after a public offering that attracted $125 billion in requests for the company.
ADNOC sold 1.41 billion shares, equivalent to 19%, in its maritime logistics business, ADNOC Logistics and Services, at a price of 2.01 dirhams per share, bringing the company’s value to $4.05 billion upon listing. ADNOC had increased the size of the offering by more than a quarter due to strong investor demand.
NextTracker was the only US company whose stock has made huge gains since its initial public offering this year, according to Bloomberg data. Its shares rose more than 60%, while India’s Mankind Pharma and China’s Hunan Yunang New Energy rose 60 and 80%, respectively.
The shares of the Emirati company, “ADNOC for Logistics and Services”, ranked second as the most profitable stock among the companies that conducted a public subscription in 2023, as shares rose by more than 80%, according to data collected by “Bloomberg” until August 28.
The Indonesian mining company “Aman Mineral” came in first place, after its shares rose by about 153% since the start of trading its shares on July 7, which is considered the largest gain among the 32 initial public offerings that have raised at least $ 500 million each so far. globally.
The company’s shares, listed on the Abu Dhabi Stock Exchange, rose in its first trading session at the beginning of last June by 55.7%, after a public offering that attracted $125 billion in requests for the company.
ADNOC sold 1.41 billion shares, equivalent to 19%, in its maritime logistics business, ADNOC Logistics and Services, at a price of 2.01 dirhams per share, bringing the company’s value to $4.05 billion upon listing. ADNOC had increased the size of the offering by more than a quarter due to strong investor demand.
NextTracker was the only US company whose stock has made huge gains since its initial public offering this year, according to Bloomberg data. Its shares rose more than 60%, while India’s Mankind Pharma and China’s Hunan Yunang New Energy rose 60 and 80%, respectively.