Home Industry Healthcare Burjeel Holdings opens subscription period for IPO in UAE, announces price range The opening of the subscription period for the offering commences on September 30 and will continue until October 4 by Gulf Business September 30, 2022 Burjeel Holdings has announced the offer price range and the opening of the subscription period for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The opening of the subscription period for the offering commences on September 30 and will continue until Tuesday, October 4, for the first tranche (offering to individual subscribers and other investors in the UAE, (the UAE retail offering) and the second tranche (professional investors), according to the state news agency, WAM. The price range for the offering has been set between Dhs2-2.45 per share, implying an equity value of $2.7-3.3bn. The final offer price is expected to be announced on October 5. Listing of the shares to trading on ADX is expected on October 10. The offering and listing are expected to be completed subject to market conditions and obtaining relevant regulatory approvals in the UAE, including approval to listing and trading on ADX. The company expects to sell 350,331,555 shares representing 7 per cent of its issued share capital, reserving the right to amend the size of the offering and the size of any tranche at any time before the end of the subscription period, subject to applicable laws and the approval of the Securities and Commodities Authority (SCA). Read: UAE healthcare provider Burjeel Holdings to sell 11% stake in IPO The offering also includes 200,397,665 new shares to be issued by the company, representing 4 per cent of the company’s issued share capital. Assuming all the shares offered are sold, the size of the offering will be approximately between $300m to $368m. The final offer price will be determined through a book-building process and is expected to be announced on October 5. The offering and listing is expected to be completed subject to market conditions and obtaining relevant regulatory approvals in the UAE, including approval to listing and trading on ADX. Allotment notification to first tranche subscribers will be sent on October 8 and refund of surplus investments and dispatch of allotment letters will commence from October 10. Also read: Abu Dhabi-based IHC acquires 15% stake in Burjeel Holdings Tags Burjeel Holdings IPO September 30 0 Comments You might also like Fourth Milling Company to float IPO on Tadawul NMDC Energy’s $877m IPO oversubscribed 31.3 times Saudi Arabian Mills sets IPO price range, seeks to raise $271m Delivery Hero prepares IPO of Talabat on Dubai bourse