off-the-wire

UAE's Al Ansari Financial Services to float on Dubai market -statement

Kitco Media
By Reuters
Published:
Updated:
Reuters
DUBAI, March 9 (Reuters) - UAE-based Al Ansari Financial Services on Thursday announced its intention to float 750 million shares on the Dubai Financial Market through an initial public offering, representing 10% of the company's issued share capital.


The subscription period for the offering will run between March 16 and March 24, and the shares are expected to be listed on the exchange on or around April 6, a statement from the company said.


Abu Dhabi Commercial Bank , EFG Hermes UAE, and Emirates NBD Capital are mandated as joint global coordinators for the IPO, the statement said.


(Reporting by Rachna Uppal; Editing by Tom Hogue)

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