UAE: Al Ansari increases IPO size for retail investors – News

Subscription period remains unchanged: UAE Retail Offer closes on Thursday, Qualified Investor Offer closes today

Al Ansari Financial Services announced on Friday that it has increased the number of UAE retail shares Initial Public Offering (IPO) – Increased it from 5% to 7.5%. That’s equivalent to 56.25 million common shares, up from 37.5 million.

However, the new share subscription period remains unchanged. The UAE Retail Offer closes on Thursday 23 March and the Accredited Investor Offer closes today (24 March).

The final offer will be determined through a book-building process following the close of offers from accredited investors and is expected to be announced on or about March 27.

All shares are existing shares, with Al Ansari Holding selling its 10% stake in the group. It will not receive any proceeds from the global offering. Following the global offering, selling shareholders will continue to own 90% of the shares.

The offering and access to the market is currently expected to be completed by 6 April, subject to market conditions and relevant regulatory approvals in the UAE, including approval for listing and trading on the DFM.