Ambitious Abu Dhabi shipowner Al Seer Marine has revealed it is now “the cornerstone investor” in giant compatriot shipping company Adnoc Logistics & Services (Adnoc L&S).

The Adnoc subsidiary listed on 1 June after an initial public offering (IPO) on the Abu Dhabi Securities Exchange, raising more than $607m.

The price range was set between AED 1.99