Spinneys sets IPO price range at AED1.42-1.53 per share

Spinneys sets IPO price range at AED1.42-1.53 per share

DUBAI / WAM Spinneys announced the price range for the sale of its shares and the start of the subscription period for its initial public offering (IPO) on the Dubai Financial Market (DFM). The offer price range has been set between AED1.42 and AED1.53 per Share, implying a market capitalisation at the time of listing ...

DUBAI / WAM

Spinneys announced the price range for the sale of its shares and the start of the subscription period for its initial public offering (IPO) on the Dubai Financial Market (DFM).

The offer price range has been set between AED1.42 and AED1.53 per Share, implying a market capitalisation at the time of listing of between c. AED5.11 billion (c. $1.39 billion) and c. AED5.51 billion (c. $1.50 billion).

Spinneys Holding announced that 900,000,000 shares, each with a nominal value of AED0.01, will be made available in the offering, representing 25% of the company’s total issued share capital.

All shares to be offered are existing shares held by Al Seer Group LLC, the selling shareholder, who reserves the right to amend the size of the offering at any time before the end of the subscription period at its sole discretion, subject to applicable laws and the approval of