Julia Fioretti

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Abu Dhabi’s main energy company is seeking to raise as much as 2.23 billion dirhams ($607 million) in the initial public offering of its maritime logistics unit, set to be the second-biggest listing in the Middle East this year.

Qatar is considering plans to increase trading in local stocks in a bid to draw more foreign investor interest and deepen markets.

The initial public offering of Adnoc Logistics & Services got enough orders to cover all shares within minutes.

Abu Dhabi’s main energy company boosted the size of its maritime logistics unit’s initial public offering by more than a quarter to as much as $769 million, indicating appetite for Gulf listings remains healthy despite weaker market conditions.

Dual listings between the Middle East and Asia are expected to become a new trend as investment flows between the two regions rise, according to bankers.

Adnoc Logistics & Services drew orders worth $125 billion for its $769 million initial public offering in Abu Dhabi, as investors flocked to the share sale amid a dearth in deals in other regions.

Adnoc Logistics & Services drew orders worth $125 billion for its $769 million initial public offering in Abu Dhabi.

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Adnoc Logistics & Services, the maritime logistics unit of Abu Dhabi’s main energy company, soared as much as 49% on its debut after its hugely oversubscribed $769 million initial public offering.