Tamweel IPO lead by The National Investor opens on February 27

AED 550 million worth of shares, representing 55% of Tamweel's capital, will be on offer to UAE nationals, UAE companies, GCC nationals, and expatriates residing in the UAE for at least 6 months at a nominal value of AED 1, with an additional 2 fils as subscription fees per share.

A unique allocation policy will be applied for the Tamweel IPO. The new allocation policy will allow both small and large investors to participate equitably in Tamweel's IPO. The offered shares will be divided into three tranches. The first tranche will be of a maximum 137,500,000 shares allocated equally among UAE National subscribers with a maximum allotment of 20,000 shares per subscriber. The second tranche is capped at 297,521,000 shares which will be distributed to UAE Nationals and UAE based institutions. The shares for this tranche will be allocated on a pro-rata basis.

The third tranche has been introduced for both expatriates investors residing in the UAE for at least 6 months as well as GCC nationals. The size of this tranche will be 114,979,000 shares and the allocation will also be on a pro-rata basis.

According to senior bankers working on the transaction, this is an exciting opportunity for UAE nationals, GCC nationals, and UAE expatriates to participate in an IPO that is expected to be successful thanks to Tamweel's excellent growth potential and the equitable allocation policy being implemented. The National Investor (TNI), which is acting as the financial advisor, lead manager, and book runner for the IPO, indicated its commitment to developing the capital markets in the region by launching innovative and ground-breaking deals.
The Tamweel IPO is being lead managed by The National Investor (TNI), the leading manager of IPOs in the UAE. TNI is acting as the financial advisor, lead manager and book runner for the initial public offering.