ADNOC L&S set to join MSCI Emerging Markets Index, over $200 million passive flows expected

Dubai: ADNOC Logistics & Services today confirmed its forthcoming inclusion in the MSCI Emerging Markets Index, effective November 25, 2025. This move is expected to draw in more than $200 million in passive capital, highlighting the firm’s increasing global investment appeal.

The milestone comes on the back of a successful $317 million secondary offering in August, which raised the company’s free-float to approximately 22% and substantially increased daily trading volumes. The offering was around seven times oversubscribed and priced at Dh5.25 per share. The company cited the tightest discount in the regional sell-down market at 3.33%. With this enhanced liquidity and shareholder base, the listing into MSCI’s benchmark paves the way for broader institutional access.

The inclusion will mark the fourth company within the Abu Dhabi National Oil Company Group to gain entry to the MSCI Emerging Markets Index. The company joins ADNOC Distribution plc, ADNOC Drilling and ADNOC Gas in the benchmark, reinforcing the ADNOC platform’s growing footprint in international capital markets.

From an operational perspective, ADNOC L&S brings a compelling revenue profile. The company currently holds over $26 billion in long-term contracted revenue, and more than $10 billion of that is tied to new-build vessels scheduled for delivery through 2028. That forward pipeline gives visible earnings support and aligns with the company’s ambition to expand in the global energy logistics and shipping sector.

Dividend guidance and performance

For the full year 2025, ADNOC L&S has offered dividend guidance of $325 million (Dh1.19 billion), a nearly 20% increase over 2024, and plans to commence quarterly dividend distributions from the third quarter of 2025, subject to approvals. The company also affirmed a target of cumulative dividends of $2.2 billion (Dh8.1 billion) through to 2030.

Since its IPO the company has delivered shareholder returns approaching 200%, backed by strong revenue and EBITDA growth.