The net income for the quarter ended March 31 included a one-time tax benefit of $300m following its formation earlier this year
The location’s proximity to ADNOC’s current operations and its future growth projects were all important factors in the decision
The three-year contract is expected to commence in 2023 and will run through 2025
The company’s unaudited combined pro forma results follow its record IPO earlier in March
The IPO is the largest ever in Abu Dhabi and the largest globally, year to date, as the emirate is expecting eight more listings
The company increased the number of ordinary shares offered in the IPO to 3.8 billion on Monday, implying market capitalisation of Dhs182bn
More than three billion shares will be offered in the IPO
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