Dubai Taxi Company has introduced the worth vary for the sale of its shares and the beginning of the subscription interval for its preliminary public providing (IPO).
In an announcement issued on Tuesday, the corporate stated the Offer Price Range had been set between AED1.80 and AED1.85 per share, implying a market capitalisation of as much as AED 4.6 billion ($1.25 billion).
The firm additionally declared a complete of 624.75 million shares, equal to 24.99 per cent of DTC’s complete issued share capital, can be provided.
All shares to be provided are current shares held by the Department of Finance for the Government of Dubai because the promoting shareholder.
The IPO subscription interval begins on Tuesday and is predicted to shut on November 28 for UAE Retail Investors and on November 29 for Qualified Investors. The last supply value can be decided via a book-building course of and is predicted to be introduced on November 30.
The assertion added that the completion of the Offering and Admission is at the moment anticipated to happen on 7 December, topic to market situations and acquiring related regulatory approvals within the UAE, together with approval of Admission to itemizing and buying and selling on the DFM.
.@DTCUAE Announces Offer Price Range and Start of Subscription Period for Initial Public Offering.
– Offer Price Range
Between AED 1.80 and AED 1.85 per share– Market Capitalization at Time of Listing
Between AED 4.5 billion and AED 4.6 billion– Total Shares
624,750,000… pic.twitter.com/G36pvJRD6k— Dubai Media Office (@DXBMediaOffice) November 21, 2023
