The market value of shares owned by foreign investors in Q1 2022 jumped 163 per cent to total Dhs131bn
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
The retail offering, which attracted higher retail demand than any UAE IPO in nearly 20 years, was 74 times oversubscribed
Borouge’s shares will start trading on June 3
Utico is the largest private utility provider in UAE and is one of the 27 companies forming part of the RMB Group
The IPO subscription period has commenced today, May 23, and will close for retail investors on May 28, 2022
It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis
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
DEWA said in a statement that the selling commissions would amount to Dhs213.7m
EFG Hermes has advised on other landmark listings such as ACWA Power’s offering on Tadawul and ADNOC Drilling’s milestone IPO on ADX
The IPO valued DEWA at $33.8bn
DEWA is expected to list on the Dubai Financial Market on or around April 12, 2022
The investment has been made through its subsidiary Alpha Dhabi Partners Holding
The price range is set between Dhs2.25 and Dhs2.48 per share, implying a market capitalisation of between Dhs112.5bn and Dhs124bn
Discussions are ongoing, but no advisers have been hired
Muvi Cinemas is Saudi Arabia’s first homegrown cinema brand
Borouge manufactures plastics used in everything from automobiles and food packaging to medicine vials and piping systems
The government will still be the largest shareholder in Aramco
The toll system could add additional banks before the listing
The company plans to sell just over two million shares to raise about SAR1.8bn.
The number of shares and proposed price range for an IPO haven’t been determined
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
Tadawul set the price at SAR105 per share after an institutional book-building process
StarLink provides cybersecurity and cloud services across the Middle East, Africa and Turkey
DEWA reported net income of $1.3bn for 2019
Are special purpose acquisitions companies becoming a serious alternate funding avenue for private companies?
The offering could value the bourse at between $3bn and $4bn
The city merged its economic and tourism departments on Saturday
The utility has projects valued at around Dhs86bn that are planned to be commissioned in the next five years
Established in 1969, Olayan Financing controls the billionaire family’s investments in the Middle East