DUBAI, Aug 28 (Reuters) - Abu Dhabi's ADNOC is selling an around 3% stake in its logistics and services unit through a bookbuild offering, it said on Thursday, as the United Arab Emirates state oil company resorts to more secondary share sales in its businesses.

The stake in ADNOC L&S (ADNOCLS.AD) , opens new tab, of up to 222 million shares, will be offered to professional investors in the UAE and institutional investors "elsewhere", ADNOC said in a statement.

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The deal is expected to increase ADNOC L&S's free float to 22% and "enhance the trading liquidity" of shares in the unit.

Created in 2016, ADNOC L&S exports crude oil, refined products, dry bulk and liquefied natural gas from Abu Dhabi to more than 100 customers in over 50 countries.

The secondary share sale follows an initial public offering of the business in 2023 that raised $769 million for ADNOC, which owns an 81% stake.

The deal comes on the back of other secondary share offerings in ADNOC units lately, including in its gas business (ADNOCLS.AD) , opens new tab, which raised $2.84 billion in February in one the biggest share sales in the Middle East in recent years.

ADNOC did not disclose the offer price for ADNOC L&S' shares, which closed up 2.3% at 5.43 dirhams ($1.48) apiece on Thursday.

The stock is up around 1.5% in the last year, according to LSEG data.

The final number of shares on offer and price will be determined at the close of the bookbuilding process, while the settlement is expected to take place on or around September 3, ADNOC said.

First Abu Dhabi Bank (FAB.AD) , opens new tab, J.P. Morgan (JPM.N) , opens new tab and China International Capital Corporation (601995.SS) , opens new tab were among banks appointed as joint global coordinators and joint bookrunners for the offering.

https://www.reuters.com/world/middle-east/adnoc-sell-3-stake-logistics-services-unit-via-bookbuild-offering-2025-08-28/