The price range for the offering of "TECOM" is between 2.46 and 2.67 dirhams per share
TECOM Group, a subsidiary of Dubai Holding, has set the price range for the public offering of 625 million shares of its shares, between 2.46 and 2.67 dirhams per share.
According to a statement by TECOM Group, the total value of the offering ranges between 1.5 billion dirhams (419 million dollars) and 1.7 billion dirhams (454 million dollars).
The market value upon listing will range between 12.3 billion dirhams ($3.4 billion) and 13.4 billion dirhams ($3.6 billion).
It is noteworthy that the subscription period for TECOM Group shares begins today, by offering 12.5% of its capital, equivalent to 625 million shares, distributed over three segments, one of which is for individuals, 10% of the offered shares, compared to 90% for professional investors. and 1% for qualified Dubai Holding Group employees.
The period specified for the first and third tranches (individuals and employees) ends on June 23, 2022, while it extends for the second tranche (professional investors) until the end of June 24, 2022.
It is expected to complete the listing of the shares and start trading on the Dubai Financial Market on Tuesday, 5 July 2022.
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