Global ECM Weekly Monitor Nov 24, 2017 – Riverstone CKD II Management Company, Abu Dhabi National Oil Company Energy Equity Capital Markets Investment Banking Power & Utilities by Sara - November 29, 20170 Our previous Global ECM Weekly Monitors can be found here. Riverstone CKD II Management Company, S. de R.L. Announcement Date: November 22, 2017 Gross Offering Amount: MXN $9 billion Price per share: MXN $100 Lead Bank: Credit Suisse Nature of the issue: Follow-on Equity Offering; Development of Trust Security Issued: Development Trust Certificates (CKD) Overallotment: N/A Riverstone is a private capital funds manager invested in the global energy industry with US $34 billion of invested capital. The company invests in three main areas: Energy and Electric Power Generation, Renewable and Alternative Energy, and Credit. Riverstone is offering MXN $9 billion in Development Trust Certificates (CKD) under a restricted public offering on the Mexico Stock Exchange. The CKD’s will be valid for 10 years. The newly-created trust will invest in renewable and clean energy in Mexico. The company believes they can capitalize on the deregulation and expansion of the industry and the government’s focus on cutting carbon emissions. The trust aims to achieve an IRR of 15%. Abu Dhabi National Oil Company for Distribution PJSC (ADX: ADNOCDIST) Announcement Date: November 20, 2017 Expected Offer Date: December 13, 2017 Gross Offering Amount: AED $7.375 billion Price per share: AED $2.35 – 2.95 Lead Banks: Citi, EFG Hermes Holding, First Abu Dhabi Bank, Goldman Sachs, HSBC, Merrill Lynch, Morgan Stanley, Rothschild Nature of the issue: IPO Security Issued: Ordinary Shares Overallotment: N/A Abu Dhabi National Oil Company for Distribution PJSC (ADNOCDIST) is a leading operator of retail fuel service stations in the United Arab Emirates (UAE), holding 37% market share. The company operates 360 retail fuel service stations and 235 ADNOC Oasis convenience stores. ADNOCDIST is a subsidiary of Abu Dhabi National Oil Company, an integrated oil and gas company in the UAE. Abu Dhabi National Oil Company is offering between 1.25 billion to 2.5 billion shares through the IPO, representing ~20% stake in ADNOCDIST. The IPO will consist of two tranches with 5% of shares being offered in the first tranche and the remainder in the second tranche. The minimum applications of the first and second tranche are AED $10,000 worth of shares and AED $5,000,000 worth of shares, respectively. The final price will be announced on December 8, 2017 and will range from AED $2.35 – 2.95. ADNOCDIST intends to pay dividends twice each fiscal year, beginning with a special dividend in April 2018 of USD $200 million (gross). Abu Dhabi National Oil Company will receive the proceeds from the sale. The company plans grow its operations and profitability by introducing new services, optimizing current operations, and leveraging its existing client relationships to pursue organic growth. Related Reading for Equity Capital Markets Equity Capital Markets Topics Dividend Policy Dividend Reinvestment Plans (DRIP) Block Trades Related Product Groups for ECM Equity Research Investment Banking Debt Capital Markets – another financing group Sales & Trading – for equity derivatives to pair with equity issues; equity sales Corporate Banking Wealth Management/Investment Advisors Buy Side/Asset Management Share on Facebook Share Share on TwitterTweet Share on LinkedIn Share Print Print