Al Ansari IPO: UAE money exchange draws $3.45bn in orders for $210m offering – The National

Al Ansari IPO: UAE money exchange draws $3.45bn in orders for $210m offering – The National

Al Ansari Financial Services, the UAE foreign exchange and money transfer company, drew Dh12.7 billion ($3.45 billion) in bids for its initial public offering that ended on Friday.

The offering raised Dh773 million for the company from the sale of a 10 per cent stake in the IPO with the global offering oversubscribed 22 times on average, the Dubai Media Office said on Monday.

The UAE retail offer, which was increased from 5 per cent to 7.5 per cent of the total offering size, received "very high demand" and was oversubscribed by roughly 44 times.