Adnoc is considering selling an additional 3% to 5% of its gas unit, potentially raising $3.5 billion to enhance liquidity and diversify its shareholder base. This move aligns with the company's strategy to capitalize on the strong demand for IPOs in the region, as evidenced by the recent successful listings in the UAE. The gas unit currently has a market capitalization of approximately 267 billion dirhams, and the anticipated offering is expected to attract significant investor interest, reflecting the robust appetite for energy sector investments in the Middle East.

The UAE's capital markets have seen a surge in IPO activity, with Abu Dhabi capturing 50% of the region's IPO revenues in 2023. The strong performance of recent listings, such as Lulu and Talabat, indicates a favorable environment for new offerings. Adnoc's potential share sale could further stimulate market activity and enhance its competitive position in the energy sector, especially as it seeks to expand its investor base and improve liquidity in its shares.