UAE exchange house Al Ansari raises $210.5 million in IPO

DUBAI, March 27 (Reuters) - UAE-based exchange house Al Ansari Financial Services said on Monday it has raised 773 million dirhams ($210.5 million) at the high-end of the indicative range in an initial public offering (IPO). The shares were priced at 1.03 dirhams apiece, Al Ansari said in a statement, adding that about 10% of the company -
equivalent to 750 million shares - will list on the Dubai Financial Market on April 6.

Al Ansari Holding will hold the remaining 90%.

The UAE retail offer was oversubscribed by around 44 times, the company said.

($1 = 3.6720 UAE dirham) (Writing by Lisa Barrington; Editing by Sherry Jacob-Phillips)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

UAE exchange house Al Ansari raises $210.5 million in IPO

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio