UAE Telecom Operator 'du' Announces 342 Million Shares Sale Offer
Emirates Integrated Telecommunications Company (du) announced the sale of over 342.084 million shares with a nominal value of Dh1 each, which represents 7.5467 per cent of the total issued shares.
The shares are listed on the Dubai Financial Market (DFM) and have been offered for sale by Mamoura Diversified Global Holding. As per the company’s prospectus published in local media, the price for the offer share is between Dh9 and Dh9.90.
By selling 342,084,084 shares, the company is expected to raise around Dh3.386 billion.
Reportedly, Du’s shares were closed at Dh9.90 percent on Friday, down 3 percent.
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The company reserves the right to amend the size of the offering at any time before the end of the subscription period, subject to the approval of the Securities and Commodities Authority (SCA).
If all the shares are fully subscribed, the stake of Mamoura Diversified Holding will shrink to 2.5156 percent in the company.
Currently, the Emirates Investment Authority (EIA) owns a majority of 50.1164 percent stake, followed by DH 8 LLC at 19.667 percent, and the Mamoura Diversified Global Holding owns 10.0622 percent. The remaining shares are held by public shareholders consisting of UAE and international individuals and professional investors.
The company’s profit for the first half of 2025 was Dh921 million up from Dh801 million during the same period last year.
The Subscription period of the share sales will be from September 8 and is expected to close on September 12.
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Under the first tranche, the 5 percent of the share will be offered to the retail investors, representing almost 17.104 million shares. Each subscriber will be guaranteed a minimum allocation of 500 shares. The minimum application size for the subscribers in the first tranche is Dh5000 with any additional application to be made in increments of Dh1,000.
The second tranche, covers 95 percent of the offer shares, and will be allocated to institutional investors. The minimum subscription for offer shares is set at Dh5 million.
