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Know about Adnoc Drilling IPO; Demand touches $34.

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New IPO is already oversubscribe by 30 times than its average. So yes, Adnoc Drilling IPO getting a good response. 

Adnoc Drilling IPO listing

Adnoc Drilling IPO listing

Gross demand of Adnoc Drilling:

Gross demand for the IPO amounted to over $34 billion, meaning an oversubscription level above 31 times in aggregate. Adnoc Drilling IPO is taken with both hands by share market UAE.

Oversubscribed IPO’s 2021:

The first public offering of Adnoc Drilling Company did multiple times oversubscribed. Notable demand from retail investors in the UAE and adequate institutional investors. Total gross demand for the IPO amounted to over $34 billion. It is indicating an oversubscription level over 31 times in aggregate. Oil giant Adnoc said on Monday, September 26 2021.

Trading on the Abu Dhabi Securities:

The Abu Dhabi Securities Exchange (ADX) listings are commencing at 10:00 AM (UAE time) on October 3, 2021. The symbol “ADNOCDRILL” and ISIN “AEA007301012.

Adnoc’s announcement:

The expanded IPO size of 1.76 billion from 1.2 billion common shares. Means it is equal to 11 per cent of the total allotted share capital. Upon settlement, the offer price of Dh2.30 per ordinary share, resulting in gross proceeds of over $1.1 billion to Adnoc.

SMS confirmation:

Investors from the first and third traders get SMS confirmation of their allocation on September 30, 2021, Adnoc said.

Stake in the company:

Upon listing on the ADX, the oil behemoth will own a majority 84 per cent stake in the company. Baker Hughes, which opened into a vital partnership with Adnoc Drilling in October 2018. It will hold its 5.0 per cent shareholding. Helmerich & Payne will hold 1.0 per cent within its IPO cornerstone investment announced on September 8, 2021.

Shariah Supervision Committees :

The Internal Shariah Supervision Committees of First Abu Dhabi Bank and HSBC Bank has announced statements verifying that the IPO is obedient to Shariah principles. First, Abu Dhabi served as the head holding bank, and Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank. Emirates NBD began as receiving banks. In contrast, Moelis & Company began as an autonomous financial consultant. Read about IPL 2021 today’s matches.

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Dubai eases restrictions on students returning from Abu Dhabi schools

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On Monday, pupils at Abu Dhabi schools will be able to return to class as Dubai lifts its

The move follows a period of online instruction at Abu Dhabi school since the start of January. As a precautionary measure amid a surge in Covid-19 infections. With the move, all Abu Dhabi schools have reverted students to online learning at the start of January. Due to an outbreak of Covid-19 have now resumed in-person teaching.

“Thanks to the support and cooperation of parents, educators, and students, PE lessons, gatherings, trips, and extracurricular activities can resume on Monday.” Dubai’s Knowledge and Human Development Authority announced on Friday.  “Because of the support and cooperation of parents, educators, and the students themselves, PE lessons, gatherings, and trips will resume on January 31,” the authority said.

ALSO READ: Emirates unveils world’s most expensive and fastest ambulance

Private schools, preschools, and universities can reopen their cafeterias and eating areas starting on January 24.  Earlier this month, authorities announced a phased return of schools it will take place on January 24 and 31.

The headteacher of Brighton College Abu Dhabi. Helen Wilkinson said the move had been in the making for a long time.

Abu Dhabi welcoming back its prep and senior students

It will be staggered and controlled on Monday morning and evening, she said. “We are excited to see as much of the Brighton community again on Monday.”

“Distance learning has developed in leaps and bounds since the beginning of the pandemic. Moreover. But it cannot replace the buzz felt when we are all in the same room together.

However, As the school prepares for the full return of all year groups on Monday. Ms. Wilkinson said they will be making sure all PCR test results are within the 96-hour period and taking temperature readings on arrival.

Michael Wilson Principal of Cranleigh Abu Dhabi said welcoming back its prep and senior students is a major highlight.

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Sheikh Mohammed is highlighting German Pavilion in Expo 2020 Dubai.

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Sheikh Mohammed bin Rashid

Germany played a vital role in EXPO 2020. That’s why Sheikh Mohammed highlighted this by visiting German Pavilion in EXPO 2020 Dubai. 

the Expo 2020 Dubai

the Expo 2020 Dubai

This world fair in Dubai was not accessible. The role of Germany has been influential, and that’s why Sheikh himself highlights that by visiting their pavilion. Sheikh Mohammed Highlighting German Pavilion in EXPO 2020 Dubai shows how much he cares for people who have helped make EXPO 2020 successful. Germans are lucky to get such appreciation from the man himself. 

It’s all giving and take. The people who stand by you in starting should be given credit when you are at the top. Sheikh did the same by visiting German Pavilion at EXPO 2020.

His Highness Sheikh Mohammed bin Rashid Al Maktoum:

Today, the vice-president and Prime Minister of the UAE and Ruler of Dubai stayed at the German pavilion at Expo 2020 Dubai.

During the visit, Sheikh Mohammed highlighted the significance of Germany’s role at Expo 2020 Dubai. Given its vast knowledge and experience in innovation and in feeding solutions that serve society.

Sheikh Mohammed also highlighted the mega event’s chances to share ideas and innovations that build a better future for humanity. HE NOTED THAT the UAE is keen to fund innovative ideas to enhance people’s satisfaction and quality of life.

During the tour, Sheikh Mohammed show various parts of the German pavilion located at the Sustainability District. Under the theme ‘Campus Germany’, the pavilion features sustainability-themed standards of invention and ingenuity.

Sheikh Mohammed saw the pavilion’s individual exhibition spaces to create visitors’ immersive experience. The pavilion has an ‘Energy Lab’, ‘Future City Lab’ and a ‘Biodiversity Lab.’ It showcase different German innovations that encourage sustainability.

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The demand for Gold peaked in the last three years in the UAE.

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Gold rates dubai 2022

Gold is showing incredible strength even in 2022. Once again, the demand for Gold peaked. It is currently at the highest level. Data shows the market of Gold is most elevated in the last three years. Many forces are supporting gold demand this year too. 

Gold prices in the UAE rise

Gold prices in the UAE rise

Rise of Gold at the top in 2022:

This yellow metal continues to outperform. This year it is standing at three years’ highest level demand. The demand for Gold in UAE is at its peak. According to the World Gold Council, the market for Gold reached 1,147 trillion in Q4 2021. Its highest quarterly level since Q2 2019, and an upsurge of almost 50 percent year-on-year.

Annual demand, excluding OTC markets, has healed many of the Covid-19 caused losses from 2020 to reach 4,021 trillion for the entire year in 2021.

The gold bar and coin market rose 31 percent to an eight-year high of 1,180 trillion. Retail investors desired a haven against the background of growing inflation and constant economic pause caused by the coronavirus pandemic.

World Gold Council’s Data 2021-22:

The World Gold Council’s data series registered outflows of 173 trillion in 2021 from gold-backed ETFs. Some investors decreased barriers early in the year amid vaccine rollouts, while growing interest rates made maintaining Gold more expensive.

The 2,200 trillion that gold ETFs have gathered over the preceding five years indicates investors’ continuing priority on including Gold in their portfolio. 

Q4 demand surpassed its highest level since Q2 2013. A quarter where the cost of Gold was 25 percent lower than the average relative price in 2021. This underlining the power and demand of Gold in the most recent quarter.

According to the World Gold Council, growing inflation and the post-pandemic economic tension have sent demand for Gold to a two-year high.

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