Abu Dhabi's ADNOC Gas Shares Hike over IPO Price

Shares of ADNOC Gas jumped about 18% over its listing price in the Abu Dhabi market debut on Tuesday. ADNOC Gas' shares traded at 2.8 dirhams (~76 cents) apiece, versus its initial public offering price of 2.37 dirhams (~64.5 cents).

State-backed oil giant Abu Dhabi National Oil Co (ADNOC) had earlier this month, raised about US$2.5 billion through a sale of roughly 5% of its gas business in an IPO.