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

Inclusion, effective Nov 25, boosts visibility, liquidity and passive investment flows

Last updated: November 06, 2025 | 07:53

Nivetha Dayanand, Assistant Business Editor

2 MIN READ

ADNOC L&S has parked multiple new build orders with the Jiangnan Shipyard in China.

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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.

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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.

Also Read: ADNOC to sell 3% stake in ADNOC L&S to boost stock liquidity

Also Read: ADNOC L&S takes delivery of first new LNG carrier from China

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.

Nivetha DayanandAssistant Business Editor

Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series. Her reporting has taken her from breaking spot news to long-form features and high-profile interviews. Nivetha has interviewed Prince Khaled bin Alwaleed Al Saud, Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu, IMF’s Jihad Azour, and a long list of CEOs, regulators, and founders who are reshaping the region’s economy. An Erasmus Mundus journalism alum, Nivetha has shared classrooms and newsrooms with journalists from more than 40 countries, which probably explains her weakness for data, context, and a good follow-up question. When she is away from her keyboard (AFK), you are most likely to find her at the gym with an Eminem playlist, bingeing One Piece, or exploring games on her PS5.

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