The UAE markets are seeing a strong boom in the public offering market, most notably with the launch of Emirates Corporation for Central Cooling Systems “Empower”, “Taaleem Holding” and “Americana for Restaurants” in November 2022 and the completion of the launch of “Baanat AI” last October, This means that the four consecutive subscriptions fall within an interval of approximately 30 days.
Empower’s subscription period ended on November 7 for individual investors in the UAE and November 8 for qualified investors, to raise an amount between 2.64 billion and 2.66 billion dirhams.
While the indicators show that the price of the shares offered has been set at the higher end of the price range, at a value of 1.33 dirhams per share, which means that 2.66 billion dirhams have been raised and therefore the value the company’s market share at the time of listing was approximately AED 13.3 billion.
- Taaleem Holding
With the end of the subscription of the “Empower” offer on the Dubai Financial Market, the subscription of the “Taaleem” group offer on the Dubai Financial Market will also open on 10 November 2022, to close to individual investors in the United Arab Emirates, employees and parents qualified on November 16, 2022 and November 17, 2022 for qualified investors.
Taaleem aims to raise a total capital of 750 million dirhams through this offer and the final offer price will be determined following the share price construction mechanism, whereby the register of subscription orders is created through subscription requests. presented only by professional investors. The shares are expected to go public and start trading on the Dubai financial market on November 29, 2022.
- American for restaurants
Before closing the subscription to “Taaleem”, the subscription of the initial public offering of “Americana Restaurants” will begin on the Abu Dhabi Stock Exchange, from November 14, 2022 to November 21, 2022 for the segment of individual investors in the United Arab Emirates and Arabia Saudi, and until November 22, 2022 for the segment of qualified institutions.
The shares are expected to start trading on the Abu Dhabi Securities Exchange and the Saudi Stock Exchange (Tadawul) around 6 December 2022.
Adeptio AD Investments Ltd. (the “selling shareholder”) intends to offer 2.53 billion shares of its common stock, representing 30% of the total issued shares in the capital of Americana Restaurants Company, in a simultaneous double initial public offering. and to list the shares of the offering on the Abu Dhabi Securities Exchange and the Saudi stock exchange (Tadawul). Bayanat AI Company has offered 571.43 million shares of the company for public subscription, as the subscription for the initial public offering was opened on October 21, 2022 and closed on October 25, 2022. The company also listed its shares on the ‘Abu Dhabi Securities Exchange on October 31, 2022.
