Adnoc Logistics Jumps 52% After $769 Million Abu Dhabi IPO (1)

Adnoc Logistics & Services, the maritime logistics unit of Abu Dhabi’s main energy company, soared as much as 52% on its debut after its hugely oversubscribed $769 million initial public offering.

The jump in the share price on Thursday was the third-biggest globally this year for a listing that raised more than $500 million, data compiled by Bloomberg show. Stock in Adnoc L&S opened at 2.91 dirhams, up from the offering price of 2.01 dirhams, which was the top of a marketed range. Abu Dhabi National Oil Co. sold 1.41 billion shares — or a 19% stake — in ...