Each subscriber in the retail offer is guaranteed a minimum allocation of 500 shares
Emirates Integrated Telecommunications Company (du) on Monday announced the final offer price of Dh9.20 per share for its secondary public offering.
The shares were offered by Mamoura Diversified Global Holding, a subsidiary of Mubadala Investment Company.
The company sold 342.084 million shares, representing 7.55 per cent of du’s share capital. Based on the final offer price of Dh9.20, the offer will generate approximately Dh3.15 billion of gross proceeds for the selling shareholder upon settlement.
“The successful completion of our secondary public offering marks another important step in strengthening du’s capital markets profile. The offering increases du’s free float to 27.7 per cent, enhancing trading liquidity, broadening access to a wider base of investors,” said Fahad Al Hassawi, CEO of du.
“The strong demand from both international and local investors reflects confidence in our strategy, our track record of strong financial and operational performance, and the opportunities ahead as we continue to power the UAE’s digital transformation. This successful transaction is also a testament to our unwavering dedication to driving long-term value creation for our shareholders,” he said.
By increasing liquidity, Al Hassawi added that the transaction also paves the way for potential inclusion in international indices such as MSCI, further strengthening its capital markets presence.
The UAE’s second transaction witnessed strong investor demand in the first-ever fully marketed secondary public offer of shares in the UAE.
“Books closed multiple times oversubscribed with strong participation from both retail and institutional as well as domestic and international investors,” it said.
The offering was comprised of two tranches – five per cent of the total off shares to retail investors and 95 per cent to institutional investors.
Each subscriber in the retail offer is guaranteed a minimum allocation of 500 shares. Excess funds will be refunded to retail investors no later than September 16.
All investors in the offering will be able to trade their shares upon opening the listing on the Dubai Financial Market (DFM) on September 16, 2025, with settlement for the qualified investor offering on September 18.
Abu Dhabi Commercial Bank, Emirates NBD Capital, First Abu Dhabi Bank, and Goldman Sachs International are acting as joint global coordinators and joint bookrunners for the offering.
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