The UAE's state energy company, Adnoc, is planning to launch its own gas unit on the Abu Dhabi stock market on Monday in a $2.5 billion initial public Offering. The offering was heavily oversubscribed, even after the number of shares offered was increased from 4.0 to 5.0 percent of issued share capital. The final price for the offering was set at 2.37 dirhams per share, towards the top of its range. The IPO is expected to attract strong interest from investors, as gas is seen as a cleaner fuel than other fossil fuels.

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