Du Successfully Completes Secondary Public Share Offering At AED 9.20, Raising AED 3.15 Billion

Emirates Integrated Telecommunications Company, known as du, has successfully wrapped up its secondary public offering. This offering, initiated on 8th September, involved 342,084,084 shares, which account for 7.55% of du's share capital. Mamoura Diversified Global Holding PJSC, a Mubadala Investment Company subsidiary, offered these shares. The final offer price was set at AED 9.20 per share.

The offering was divided into two parts: the UAE retail offer and the global offering. The UAE retail offer made up 5% of the total shares available, while the global offering accounted for the remaining 95%. This latter portion targeted qualified institutional investors both within the UAE and in various regions outside the United States.

Fahad Al Hassawi, CEO of du, remarked on the significance of this achievement. "The successful completion of our secondary public offering marks another important step in strengthening du’s capital markets profile," he stated. He highlighted that this move boosts du's free float to 27.7%, thereby increasing trading liquidity and attracting a broader range of investors.

The transaction is expected to generate approximately AED 3.15 billion in gross proceeds for Mamoura Diversified Global Holding PJSC upon settlement. The strong interest from both international and local investors underscores confidence in du's strategic direction and its consistent financial and operational performance.

Al Hassawi also noted that enhancing liquidity could lead to potential inclusion in international indices like MSCI. This would further diversify their shareholder base and solidify their presence in capital markets. He emphasized their commitment to creating long-term value for shareholders through this successful transaction.

The settlement process for the Qualified Investor Offering will occur through DFM’s direct deals system on Tuesday, 16th September before market opening. Investors will need to cover broker fees as per their agreements with brokers handling their purchases.

Settlement Details and Trading Commencement

Each subscriber in the UAE Retail Offer is assured a minimum allocation of 500 Offer Shares. Any excess funds will be returned to retail investors by Tuesday, 16th September 2025. All investors can start trading their Offer Shares when DFM opens on that date.

The settlement for the Qualified Investor Offering is scheduled for Thursday, 18th September. Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital PSC, First Abu Dhabi Bank PJSC, and Goldman Sachs International are serving as Joint Global Coordinators and Joint Bookrunners for this offering.

This development marks a significant milestone for du as it continues to support the UAE’s digital transformation journey while enhancing its market position through strategic financial initiatives.

With inputs from WAM