GulfBase Live Support
THE highly anticipated initial public offering (IPO) of Amanat Holdings, a public joint stock company under incorporation, opened Monday, with the prospectus now available for download at www.amanat.ae. With a total capitalization of AED 2.5 billion listed on the Dubai Financial Market (DFM), the Amanat IPO will create the GCC’s largest integrated healthcare and education company.
Until Nov. 4, individual and institutional investors can apply for shares in the IPO. A total of 1,306,250,000 shares, representing 55 percent of the capital, have been offered to the public at a price of AED 1.00 per share, plus offering costs. A second tranche of 68,750,000 shares has been allocated to the Emirates Investment Authority (EIA) in accordance with UAE law. Amanat expects investors to participate in the company’s capitalization and benefit from its strong liquidity position, and efficient access to the high-growth, non-cyclical and socially responsible healthcare and education sectors.
Subscription is open to UAE, GCC and non-GCC individuals who have an up-to-date DFM Investor Number (“NIN”), as well as institutional investors. The minimum application for shares in the IPO has been set at 5,000 shares, with any additional subscription to be made in increments of at least 1,000 shares.
The stock markets in the UAE and GCC were in a tug-of-war state as investors weighed positive news on the economic front and a ‘catastrophic’ overnight explosion in Lebanon that killed at least 100.<
GCC equity markets staged a strong recovery in the latter part of 2Q20, reversing a large part of the prior losses induced by the coronavirus and its associated lockdowns and restrictions. The recove
The MSM 30 Index closed the week up by 0.12 per cent despite lower volume and turnover as compared to the previous week. Shariah index was down by 0.07 per cent. The turnover and volumes were lower t
Oman Daily Observer
Abu Dhabi Securities Exchange (ADX) announced on Tuesday that it has listed $4 billion Fixed Rate Notes issued by MDGH GMTN B.V. and guaranteed by Mamoura Diversified Global Holding (MDGH).
The Gulf Today
Leading UAE banks have come to the bond market, and they are getting a warm response. Sharjah Islamic Bank priced its $500 million 5-year sukuk at LIBOR plus 285 bps, and received more than $3.4 bil