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ADNOC reported to be in early talks with investors ahead of drilling unit IPO

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Oilfield Technology,

As reported by Reuters, ADNOC has started virtual meetings with potential investors ahead of the planned initial public offering of its drilling unit, according to two sources.

Banks working on ADNOC Drilling are scheduling calls with a local, regional and international institutional investors to sound out appetite for the potential sale, said the sources, declining to be named as the matter is not public.

The meetings are described as an early look engagement, one of the sources said, where the company that is set for a public share-sale is introduced and feedback is sourced from investors.

ADNOC declined to comment when contacted by Reuters.

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