UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has started holding virtual meetings with potential investors before launching the planned initial public offering (IPO) of its drilling unit, two sources told Reuters.
The banks arranging the drilling unit's IPO are scheduling calls with local, regional, and international institutional investors who seek to invest in ADNOC Drilling, the sources added.
ADNOC Drilling owns and operates the largest fleet of 96 rigs in the Middle East, including onshore and offshore rigs, according to the company's website.
It is noteworthy to mention that last week, ADNOC has invited investment banks to help arrange the IPO of ADNOC Drilling through their bookrunner roles.
