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Alpha Dhabi also announced that it was moving ahead with its initial public offering
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The IPO may comprise a sale of existing shares to individuals and other investors
Abu Dhabi-based Alpha Dhabi Holding is planning to list its ordinary shares on the Abu Dhabi Securities Exchange or ADX on June 27 with a paid-in capital of AED10 billion ($2.27 billion), said local reports on Friday, June 25.
A subsidiary of International Holding Company, Alpha Dhabi said this while announcing that it was moving ahead with its initial public offering, said the reports.
The IPO may comprise a sale of existing shares to individuals and other investors in the emirates, which will be part of the UAE retail offering.
The sale may also be to qualified institutional and other investors, which will be part of the qualified investor offering, said the reports.
Alpha Dhabi Holding Chairman Mohamed Thani Murshed Al Rumaithi was quoted by the reports as saying: “We have made the journey to become a public company in a way that’s going have a positive reflection on our growth plan.”
He added: “As a public company we will have a stronger capital structure to invest in additional verticals, expand commercially and accelerate growth both organically and through acquisitions.”
As of now, Alpha Dhabi operates in the industries, healthcare, investments with partners, construction, and hospitality verticals.
