Giant state energy company Abu Dhabi National Oil Co (Adnoc) is moving ahead with a potential $4bn-plus float for its shipping arm a year after the plan was first mooted.
The group has called in investment banks to bring shipowner Adnoc Logistics & Services (Adnoc L&S) to market, sources quoted by Bloomberg said.
The IPO will be prepared by Citigroup, JPMorgan Chase and First Abu Dhabi Bank.
