off-the-wire

UAE exchange house Al Ansari raises $210.5 million in IPO

Kitco Media
By Reuters
Published:
Updated:
Reuters
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)

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