Al Ansari Financial Services announces its intention to float on DFM

Al Ansari Financial Services announces its intention to float on DFM

DUBAI, 9th March, 2023 (WAM) -- Al Ansari Financial today announced its intention to proceed with an Initial Public Offering (IPO) and to list its ordinary shares for trading on the Dubai Financial Market (DFM).

In a press statement, Al Ansari said that 750,000,000 (seven hundred and fifty million) Shares, each with a nominal value of AED0.01 (one fils) will be made available in the Global Offering, representing 10% of the Company's total existing share capital.

The statement added that Al Ansari Holding reserves the right to amend the size of the Global Offering at any time before the pricing of the Global Offering subject to the applicable laws of the UAE and the approval of the SCA.

Al Ansari Holding is Al Ansari Exchange's only shareholder, and therefore it is the only selling shareholder.

The Global Offering will be made available to individual and other investors as part of the UAE Retail Offering (as defined below) and to professional investors outside the United States of America, including the UAE, as part of the Qualified Investor Offering (as defined below).

The Emirates Investment Authority (EIA) shall be entitled to subscribe for up to 5% of the Global Offering, and the percentage of Shares which the