Amanat meets UAE’s leading brokers at DFM

24/10/2014 08:35 AST

Amanat Holdings (Amanat), a public joint stock company under incorporation, hosted an awareness session at the Dubai Financial Market (DFM) with approximately 30 of the UAE’s leading brokers as part of its Dhs1.375 billion Initial Public Offering (IPO).

Faisal Bin Juma Belhoul, Chairman of the Board of Amanat, said: “We are delighted with the interest and excitement expressed by brokers at DFM in the Amanat IPO. There is widespread understanding of the value creation potential in the GCC’s education and healthcare sectors, and particularly why Amanat will be extremely well-positioned to capture this. With the subscription period now open, the opportunity provided by Amanat for both individual and institutional investors is clear. We would like to express our gratitude to DFM for their assistance in facilitating the awareness day and helping to ensure its success.”

With a total capitalisation of Dhs2.5 billion, Amanat will establish, acquire and incorporate companies working in the healthcare and education sectors, and develop, manage and operate these companies within the GCC. Retail and institutional investors can participate equally in the Amanat IPO, with a total of 1,306,250,000 shares at an offer price of Dhs1.00 per share plus offering costs allocated to this tranche. A second tranche of 68,750,000 shares has been allocated to the Emirates Investment Authority (EIA) in accordance with UAE law.

Applications to subscribe to the Amanat IPO can be submitted to the banks like National Bank of Abu Dhabi, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Abu Dhabi National Islamic Finance, Ajman Bank, Dubai Islamic Bank, Finance House, and Union National Bank. All investors will require a DFM Investor Number (NIN), which can be easily obtained in as little as 24 hours.

The subscription period for the Amanat IPO opened on Oct.20, 2014, and will close on Nov. 4, 2014.

Founded by a group of 37 investors, Amanat plans to raise Dhs1.375 billion at an offer price of Dhs1.00 per share plus offering costs, representing 55 per cent of total share capital, through a primary listing on the Dubai Financial Market (DFM).

The Gulf Today