Abu dhabi: Emirates Integrated Telecommunications Company (du) announced today the successful completion of its secondary public offering, which launched on Monday, 8th September. The offering involved 342,084,084 shares, representing 7.55 percent of du's share capital, marketed through a fully structured secondary public offering.
According to Emirates News Agency, the shares were offered by Mamoura Diversified Global Holding PJSC, a subsidiary of Mubadala Investment Company, accounting for 75 percent of their stake in du. The final offer price was set at AED 9.20 per share, generating approximately AED 3.15 billion in gross proceeds for the selling shareholder upon settlement.
The offering was divided into two main tranches: the UAE retail offer, constituting 5 percent of the total offer shares, and the global offering, which represented 95 percent of the shares targeted at qualified institutional investors in the UAE and other jurisdictions outside the United States.
Fahad Al Hassawi, CEO of du, emphasized that the successful completion of the offering marks a significant milestone in enhancing du's capital markets profile. He highlighted that the offering increased du's free float to 27.7 percent, which enhances trading liquidity and broadens investor access. Al Hassawi noted the strong demand from both international and local investors, reflecting confidence in du's strategy and its potential for long-term value creation.
He also mentioned that by increasing liquidity, the transaction could lead to potential inclusion in international indices such as MSCI, further diversifying the shareholder base and strengthening their capital markets presence.
The offering was coordinated by Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital PSC, First Abu Dhabi Bank PJSC, and Goldman Sachs International, acting as Joint Global Coordinators and Joint Bookrunners. Each UAE retail offer subscriber is guaranteed a minimum allocation of 500 shares, with excess funds to be refunded no later than Tuesday, 16th September 2025.
The settlement and delivery of the offer shares in the Qualified Investor Offering will be executed through the DFM's direct deals system before the market opens on Tuesday, 16th September. Investors will be required to pay applicable broker and stock-exchange fees per their broker agreements. Trading of the offer shares will commence on the DFM on the same day, with settlement for the Qualified Investor Offering on Thursday, 18th September.