Al Ansari announces IPO price range starting at AED1, subscription begins today

Al Ansari announces IPO price range starting at AED1, subscription begins today

DUBAI, 16th March, 2023 (WAM) -- Al Ansari Financial Services today announced the offer price range per share and the start of the subscription period for its Initial Public Offering (IPO) on the Dubai Financial Market (DFM).

The price range for the Global Offering has been set at between AED1.00 and AED1.03 per share, implying a market capitalisation at a listing of between AED7.50 billion (US$2.04 billion) and AED7.73 billion (US$2.10 billion).

A total of 750 million (750,000,000) shares, equivalent to 10% of the Group’s issued share capital, will be offered, resulting in a total Offering size of between AED750 million ($204 million) and AED773 million ($210 million).

All the Shares are existing shares, with Al Ansari Holding selling 10% of its ownership in the Group. The Group will not receive any proceeds from the Global Offering. Following the Global Offering, and subject to the size of the Global Offering not being increased, the Selling Shareholder will continue to hold a stake of 90%.

Al Ansari Holding reserves the right to amend the size of the Global Offering at any time prior to the end of the subscription period at its sole discretion, subject to the applicable laws of the UAE and the approval