United Arab Emirates energy giant Abu Dhabi National Oil Co (ADNOC) said on Thursday it would offer about 3.1 billion shares of Adnoc Gas, representing 4% of the unit's share capital.

The offering is expected to close on Friday and seeks to "enhance trading and liquidity in ADNOC Gas' ordinary shares and diversify its shareholder base," parent ADNOC said in a statement.

ADNOC's gas unit became operational at the start of 2023 as the state-backed oil giant consolidated its gas processing, LNG and industrial gas operations into one company.

It has since listed on the Abu Dhabi stock exchange, raising about $2.5 billion in one of the biggest IPOs in the region in recent years.

Parent ADNOC in November said it saw "significant value creation potential in ADNOC Gas" but had not taken a decision on an "additional share sale, including the timing or sizing of such a sale."

ADNOC also raised $935 million in May last year by selling a 5.5% stake in its drilling unit to institutional investors.

(Reporting by Abinaya Vijayaraghavan and Federico Maccioni Editing by Tomasz Janowski)