ABU DHABI, 26 Dec, 04 (WAM) - The Founders' Committee of Addar Properties,PJSC - Under Establishment announced that it has concluded the allotmentof the Company's shares, according to a statement issued today.
Final statistics show the total amount collected is Dh 372.8 billion,which means that the total shares subscribed by UAE investors amountedto 396.1 billion shares collected from 21,980 subscribers. This figureindicates that Addar Properties public offering, which amounted to Dh825 million, was over-subscribed nearly 448 times and therefore the allotmentpercentage is equivalent to 0.223%. Excess oversubscribed funds havebeen returned through cheques via registered mail today.
National Bank of Abu Dhabi delivered refund cheques, along withthe allotment letters and invitations to the 1st General Assembly meetingof the Company to the Central Post Office in Abu Dhabi yesterday.Addar Properties Founders' Committee expressed its appreciation and gratitudeto all individual and corporate shareholders who demonstrated their trustin the Company as evident by the high demand for its share offering.
Final incorporation procedures are currently being completed by the foundersin order to finalize the official establishment of the Company and listits shares on Abu Dhabi Securities Market as soon as possible.
