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28 March 2024

Amanat IPO opens for subscription today

Published

The Initial Public Offering (IPO) of Amanat Holdings, a public joint stock company under incorporation, opens today (Monday), with the prospectus now available for download at www.amanat.ae. With a total capitalisation of Dh2.5 billion listed on the Dubai Financial Market (DFM), the Amanat IPO will create the GCC’s largest integrated healthcare and education company.

From Monday until November 4, individual and institutional investors can apply for shares in the IPO. A total of 1,306,250,000 shares, representing 55 per cent of the capital, have been offered to the public at a price of Dh1 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..

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 allotment of shares, as well as the refund of surplus amounts, will be announced on November 11. Amanat is expected to list on DFM on November 29, following the Constitutive General Assembly on November 13.

Individual investors, who have an up-to-date NIN registered through DFM, can subscribe to the Amanat IPO online, through the DFM eIPO platform using an active iVESTOR card with sufficient funds, or in person at any branch of the receiving banks.

The receiving banks where subscription applications can be submitted are: National Bank of Abu Dhabi, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Abu Dhabi National Islamic Finance, Ajman Bank, Dubai Islamic Bank, Finance House, and Union National Bank.