#IPO

Al Othaim family

Saudi Al Othaim family scraps IPO of malls

Abdullah Al Othaim Investment Company decided to cancel the listing of a 30 per cent stake on the Saudi stock exchange

TECOM Group Closes IPO, raises 1.7bn dirhams

Dubai’s TECOM Group completes IPO, raises Dhs1.7bn

The global offering drew substantial demand from both the qualified institutional offer and UAE retail offer, with total gross demand reaching Dhs35.4bn

Carlyle seeks $325m from Gulf Domino’s Pizza operator IPO

Carlyle is selling a 41.7 per cent stake in Alamar, or 10.6 million shares, to institutional and retail investors

Salik

Sheikh Mohammed issues law establishing Salik as public joint stock company

The Executive Council of Dubai is authorised to determine the percentage of shares that can be offered for subscription either through an IPO or private placement

Dubai-Internet-City Tecom Group

Dubai’s Tecom Group sets IPO price range at Dhs2.46-2.67

The final offer price is expected to be announced on June 27, 2022

Oman wealth fund

Oman wealth fund considers IPOs of state energy firm OQ’s units

The share sales are part of Oman Investment Authority’s plan to exit state assets in a bid to bolster the country’s coffers and expand its stock exchange

Dubai-Internet-City Tecom Group

Tecom Group to list 12.5% of shares on Dubai Financial Market

The company expects to pay a dividend amount of Dhs800m per annum over the next three years

Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange’s market capitalisation hits $545bn

The market value of shares owned by foreign investors in Q1 2022 jumped 163 per cent to total Dhs131bn

EFG hermes Boursa Kuwait

EFG Hermes wraps up advisory on $323m private placement ahead of Ali Alghanim and Sons’ IPO

This is a significant milestone for EFG Hermes, as it’s the firm’s first IPO on Boursa Kuwait where it has acted as a joint bookrunner for the offering

Adnoc borouge

ADNOC delivers fourth consecutive record-setting IPO on ADX

The retail offering, which attracted higher retail demand than any UAE IPO in nearly 20 years, was 74 times oversubscribed

Borouge

Borouge’s $2bn Abu Dhabi IPO draws $83bn of orders

Borouge’s shares will start trading on June 3

Dubai-Skyline-e1650964799688

UAE’s Utico hires banks to advise on potential IPO

Utico is the largest private utility provider in UAE and is one of the 27 companies forming part of the RMB Group

IPO

Offer price for Abu Dhabi’s largest ever listing set at Dhs2.45 per share

The IPO subscription period has commenced today, May 23, and will close for retail investors on May 28, 2022

ADNOC

ADNOC begins process to list Borouge on Abu Dhabi Securities Exchange

It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis

Adnoc

Adnoc, Borealis seek $2bn from IPO of plastics JV

The state-owned energy company and Austrian chemicals producer plan to sell a 10 per cent stake in their Borouge plastics unit by the end of the quarter

Citi, HSBC set to share up to $97m in fees from DEWA IPO

DEWA said in a statement that the selling commissions would amount to Dhs213.7m

EFG Hermes completes advisory on $6.1 bn DEWA IPO

EFG Hermes has advised on other landmark listings such as ACWA Power’s offering on Tadawul and ADNOC Drilling’s milestone IPO on ADX

Dubai utility surges after pulling off year’s second-biggest IPO

The IPO valued DEWA at $33.8bn

Dubai’s DEWA increases stake size from 6.5% to 17% in IPO

DEWA is expected to list on the Dubai Financial Market on or around April 12, 2022

Alpha Dhabi invests Dhs367m in DEWA’s IPO

The investment has been made through its subsidiary Alpha Dhabi Partners Holding

UAE’s DEWA IPO subscription period opens today

The price range is set between Dhs2.25 and Dhs2.48 per share, implying a market capitalisation of between Dhs112.5bn and Dhs124bn

KFC Operator

Middle East KFC operator starts early talks over listing

Discussions are ongoing, but no advisers have been hired

Saudi Arabia’s first movie chain plans landmark IPO

Muvi Cinemas is Saudi Arabia’s first homegrown cinema brand

ADNOC, Borealis hiring banks for IPO of plastics joint venture

Borouge manufactures plastics used in everything from automobiles and food packaging to medicine vials and piping systems

Saudi Arabia transfers 4% of Aramco stake to state wealth fund

The government will still be the largest shareholder in Aramco

Salik

Moelis wins another top Dubai IPO role with Salik mandate

The toll system could add additional banks before the listing

Saudi food delivery company Jahez prices IPO at top of range

The company plans to sell just over two million shares to raise about SAR1.8bn.

Reddit says it filed confidentially for US IPO

The number of shares and proposed price range for an IPO haven’t been determined

Dubai plans to list district cooling firm Empower in IPO push

The government said last month it wants to sell shares in 10 companies, and it has been encouraging private and family-owned businesses to follow suit

Saudi stock exchange sets IPO offer price at top end of range

Tadawul set the price at SAR105 per share after an institutional book-building process