- Type of Offering
- IPO
- Status
- Rumored
- Exchange
- Abu Dhabi SE
- Sector
- Real Estate
- Country of Incorporation
- UAE
- Shares Offered
- 3,590,250,000
- Offer Size
- AED 3,662.06M
- Percentage Offered
- 55%
- Issue Price
- AED 1.02
- Total Equity Value
- AED 6,658.28M
- Minimum Subscription
- Institutional Tranche: 55,000 Shares (in multiple of 5,000 Shares thereafter).
Retail Tranche: 10,000 Shares (in multiple of 5,000 Shares thereafter).
- Eligibility RequirementsGCC and UAE nationals only
- Additional InformationShare price: AED 1.02; AED 1 Par Value + AED 0.02 offering costs.
Shares are offered into 4 tranches:
1- Institutional Tranche: 2,261,857,500 shares or 63% of the offering.
2- Retail Tranche: 897,562,500 shares or 25% of the offering.
3- Development Funds: 251,317,500 shares or 7% of the offering.
4- Government Employees: 179,512,500 shares or 5% of the offering.
Al Qudra decided to postpone the IPO following "the recent discussions around the revised companies' law that allows UAE institutions to offer less than 55 per cent through an initial public offering, Al Qudra's board of directors has elected to capitalise on this opportunity and postpone the offering to a later date during 2008.
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