UAE telecom firm du announces sale of 342 million shares
Emirates Integrated Telecommunications Company (du) on Monday disclosed the sale of 342084 million shares with a nominal value of 1 Dirham each which represents 7.5467 of the total issued shares.
These shares of the second telecom operator in the UAE which is currently listed on the Dubai Financial Market DFM are being sold by Mamoura Diversified Global Holding.
The price for the offer share is between 9 Dirham and 9.90 Dirham which was the volume of shares reported in the prospectus that was released on the company’s website Monday.
The company is expected to raise between 3.078 to 3.386 billion Dirham. On Friday, du shares closed at 9.90 Dirhams per share which is a 03 decrease.
Du also noted that it may change the size of the offering at any time before the end of the subscription period, change the size of the offering at any time before the end of the subscription period, subject to the approval of the SCA.
Before the share sale, Mamoura Diversified Global Holding was in possession of a 10.0622 stake in the second telecom operator in the UAE. If the shares are fully subscribed, the stake will be reduced to 2.5156 in the company.
Right now, the Emirates Investment Authority (EIA) possesses the majority 50.1164 per cent stake, followed by DH 8 LLC at 19.6657 per cent and Mamoura Diversified Global Holding (previously Mubadala Development Company PJSC) with 10.0622 per cent. Public shareholders, which includes both domestic and foreign individuals, along with professional investors, own the remaining shares.
“This is to inform investors that the Company has reported a profit of Dh921 million for the first half of year 2025, an increase of 15 per cent from Dh801 million during the same period last year.”
Subscription period, allocation
The subscription period of the two-tranche share sale begins on the 8th of September and expires on the 12th. Updated retail tranche allocation (RTA) as part of tranche one includes 5% of the total offer i.e 17.104 million shares.
Subscribers to the first tranche will be offered 500 shares which will be guaranteed as minimum allocation. However, set limits and conditions will be contained in the offer documents.
Investment in the first tranche requires a minimum investment of Dh5000, and additional increments of Dh1000. There is no upper limit placed on first tranche subscribers.
The second tranche will be reserved for institutional investors and is 324.979 million shares, which is 95% of the total offer.
The set minimum for offer shares in the second tranche is Dh5 million. A 5% share offer to the Emirates Investment Authority (EIA) was also announced. The lead bank for the offer is Emirates NBD and the co-lead managers are Abu Dhabi Commercial bank, Emirates NBD capital and First Abu Dhabi bank.
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