TECOM Group commences trading on the Dubai Financial Market

TECOM Group commences trading on the Dubai Financial Market

- TECOM Group’s UAE Retail Offer achieved 40 times oversubscription, the highest multiple for an IPO on DFM

- 30% of the Qualified Institutional Offer was allotted to international investors

- Listing of TECOM Group diversifies DFM opportunities through a company with solid track record in developing and managing specialised business districts

TECOM Group PJSC, a manager and operator of 10 strategic, sector-focused business districts across Dubai and a major contributor to the rapid growth of Dubai’s knowledge and innovation-based sectors, successfully listed on the Dubai Financial Market (“DFM”) today, beginning its first day of trading under the ticker symbol “TECOM”.

TECOM Group has successfully raised approximately AED 1.7 billion through an initial public offering (“IPO”). The final offer price of the Global Offering was AED 2.67 per ordinary share, and the Company has floated 625 million (625,000,000) ordinary shares, which is 12.5% of its issued share capital. The Global Offering drew substantial demand and was oversubscribed by a little over 21 times in aggregate and the UAE Retail Offer achieved a remarkable oversubscription multiple of almost 40 times in aggregate., surpassing any IPO on the DFM to date. The IPO drew significant interest from international investors, consequently, around 30% of the Qualified Institutional