A Currency Exchange of Stakes

A Currency Exchange of Stakes

Share this article


  • Al Ansari Financial Services, which is slated to be the first Dubai IPO of 2023, will offer 750 million shares for 10% of the company's current share capital. The subscription period for retail investors will run from March 16 to 23, while the subscription period for qualified investors will end on March 24.
  • Potential subscribers will be sure to pay attention to the dividend offer – Al Ansari plans to implement a semi-annual dividend payment plan, with a minimum dividend payment of Dh600 million in 2023, the first payment arriving in October and the second in April 2024. The company is aiming to pay out at least 70% of net profit. 

Why it matters

Al Ansari's entry into the market follows the closing of the first UAE IPO of the year, ADNOC Gas, while G42-owned presight.ai is currently undergoing a concurrent IPO on ADX. Al Ansari and presight.ai's participation in the UAE stock markets is expected to diversify the sectors and industries represented, which have been primarily constituted by construction, banking, insurance, telecommunications, and investment firms.

akbaraka

Get Smarter
About Investing

Join 35,000+ subscribers and get our 5 min daily newsletter on daily local and international financial news.
akhbaraka
Get Smarter<br/> About Investing

Similar News