LONDON: Abu Dhabi National Oil Co (Adnoc) is considering listing its international investment arm XRG on an exchange outside of the United Arab Emirates, three people with knowledge of the matter say, potentially creating one of the largest listed energy companies globally.
The discussions to list a minority stake of XRG, which was established late last year, are at a very early stage and Bank of America is advising the company on strategy, including the possibility of listing on an international exchange, the people said. Any flotation would be in about five years, one of them added.
