Dubai - Mubasher: Emirates Integrated Telecommunications Company (du) is expected to generate AED 3.15 billion through a secondary public offering of 342.08 million shares, equivalent to 7.55% of its capital.
The shares were sold by Mamoura Diversified Global Holding, a subsidiary of Mubadala Investment Company, at AED 9.20 each, according to a press release.
The transaction lifts du’s free float to 27.70%, boosting liquidity and paving the way for possible MSCI and FTSE index inclusion.
Settlement for retail investors will be completed by 16 September, while the institutional settlement will be processed via the DFM’s direct deals system the same day.
Books closed multiple times oversubscribed, with strong demand from retail and institutional investors, both domestic and international.
It is worth noting that ADCB, Emirates NBD, FAB, and Goldman Sachs International acted as joint global coordinators and bookrunners.
Fahad Al Hassawi, CEO of du, said: “The successful completion of our secondary public offering marks another important step in strengthening du’s capital markets profile. ”
“By increasing liquidity, the transaction also paves the way for potential inclusion in international indices such as MSCI, further diversifying our shareholder base and further strengthening our capital markets presence,” he added.
In the first half (H1) of 2025, du registered 22.40% higher net profits after tax valued at AED 1.44 billion, compared to AED 1.18 billion in H1-24.
