Happy Friday everyone!

From Abu Dhabi to Dubai, strategic moves are reshaping regional and global markets. ADNOC is offering around 3% of its logistics and services unit via a bookbuild, targeting both local and international institutional investors. Meanwhile, Abu Dhabi’s $330 billion sovereign wealth fund, Mubadala, invests $35 million in UK semiconductor pioneer Paragraf to accelerate production of graphene-based electronics, promising faster, smaller, and energy-efficient devices. Back in Dubai, entrepreneur Alyazi Almheiri’s luxury candle brand, From the Arabs, is honoring Emirati heritage while partnering with global luxury names like Gucci, Tiffany & Co., and Cartier.

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ADNOC to Sell 3% Stake in Logistics and Services Unit

🔹 What Is It About

Abu Dhabi National Oil Company (ADNOC) is offering around 3% of its logistics and services unit (ADNOC L&S) through a bookbuild process, totaling up to 222 million shares. The sale targets professional investors in the UAE and institutional investors abroad. The move follows ADNOC L&S’s 2023 IPO, which raised $769 million, and is part of ADNOC’s broader strategy of secondary share sales across its subsidiaries. First Abu Dhabi Bank, J.P. Morgan, and China International Capital Corporation are acting as joint global coordinators and bookrunners.

🔹 Why It Matters

The offering is set to increase ADNOC L&S’s free float to 22%, improving share liquidity and providing more opportunities for investors to participate in the UAE’s strategic energy sector. ADNOC L&S plays a crucial role in exporting crude oil, refined products, dry bulk, and liquefied natural gas to over 50 countries. This sale reflects ADNOC’s ongoing approach to unlocking capital from its subsidiaries while maintaining majority ownership, supporting both growth and market confidence.

🔹 What’s Next

The final number of shares and pricing will be set at the close of the bookbuilding process, with settlement expected on or around September 3. Investors and market watchers will closely track the offering’s reception, as it signals ADNOC’s continued focus on capital market engagement.

Mubadala Backs UK Graphene Firm Paragraf to Scale Groundbreaking Tech

🔹 What Is It About

Abu Dhabi’s sovereign wealth fund Mubadala, valued at $330 billion, has invested $35 million in British semiconductor pioneer Paragraf, acquiring a 12.8% stake. The funding targets Paragraf’s graphene-based electronics, which enable faster, smaller, and more energy-efficient devices than silicon. The investment comes after UK national security checks delayed foreign funding, nearly pushing Paragraf to the brink of running out of cash.

🔹 Why It Matters

Graphene opens transformative applications: quantum computing, electric vehicles, energy storage, chemical testing, and medical sensors for early disease detection. Mubadala’s backing signals confidence in both UK innovation and the Middle East’s role in global high-tech investment, highlighting the growing appetite for advanced electronics capable of operating in extreme conditions.

🔹 What’s Next

Paragraf plans to expand production and establish subsidiaries in the Middle East, China, and the U.S., becoming the first global company to scale graphene for quantum computing, EVs, energy storage, and medical technologies. The firm aims to deliver high-performance, energy-efficient electronics at commercial scale while leveraging international partnerships for global expansion.

Markets

The Emirati Woman Who’s Been Quietly Building a Luxury Brand

🔹 What Is It About

Alyazi Almheiri, a Dubai native, launched From the Arabs during the COVID-19 pandemic, creating hand-crafted luxury candles inspired by traditional Emirati scents. Drawing from her family legacy—her grandfather, a pearl diver, supplied rare agarwood and blue amber to her grandmother, a perfumer—the brand transforms bakhoor recipes into contemporary aromatic candles. It honors Emirati women, their craft, and cultural heritage, while delivering a premium sensory experience. From the Arabs has partnered with luxury names including Gucci, Tiffany & Co., Chanel, Fendi, and Cartier.

🔹 Why It Matters

From the Arabs represents a modern Emirati success story, blending heritage, sustainability, and global luxury appeal. The brand preserves traditional scents and practices while creating opportunities for Emirati women in the craft industry. Its presence signals that locally inspired, culturally authentic brands can compete on a world stage without sacrificing identity or quality.

🔹 What’s Next

Earlier this year, From the Arabs opened its first physical store at the Emirati District in Dubai Airport, extending beyond online sales. Moving forward, Almheiri plans to deepen partnerships that uphold authenticity and heritage, expand the brand’s footprint internationally, and continue highlighting Emirati craftsmanship through modern, luxurious experiences.

👨‍💻From Smashi Business’ Desk

• Dreamers: Kevin O’Leary Buys Bryant-Jordan Trading Card for $13M, Setting One of Basketball’s Highest Price Tags.

• Sunny Varkey on ABtalks: GEMS Education Founder Shares Views on Ambition, Wealth, and Education as a Force for Change

• Israeli police seized 1.5 million shekels ($447,000) in “terror-related” funds during a raid in central Ramallah, per Al Arabiya English.

• Abu Dhabi’s Lunate Takes Stake in Brevan Howard, Launches $2B Hedge Fund Platform at ADGM.

• Kuwait Revokes Licences of Al Sabah Newspaper and TV Channel After Owner Loses Citizenship.

🔍In other news…

• Lebanon agrees bail for ex-central bank chief: judicial officials.

• Adnoc signs 15-year LNG supply deal with IndianOil.

• Former HSBC banker joins Oman Investment Bank as head of DCM, Structured Finance.

• Abu Dhabi to host Sotheby’s first auction: $20M diamonds, rare supercars and billionaire bidders.

• Ahead of Onam, Dubai gold price shoots back to highest in 30 days at Dh379.25.

• UAE’s Emirati women drive $16 billion economic impact.

🏦 Crypto Corner

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accepts AE Coin.

We are launching a Smashi Crypto newsletter in September 2025! Subscribe to it here to get the weekly updates from the world of digital assets.

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