Today, AMAN stated that subscribing for the capital increase had successfully been completed and had exceeded every expectation for it has surpassed the required value for increasing the capital, which is AED 131 million, as the IPO had reached 166.6%.
Aman has expressed its appreciation and gratitude to all shareholders for the trust they had placed in it; confirming that shareholder privatization procedures in addition to the returning of IPO surplus will be done immediately and within the legally specified time-frames. This will take place in branches of the Dubai Islamic Bank which had also witnessed the IPO procedures.
It is essential to mention here that subscription for the capital increase of the company from AED 60 to AED 200 million had started on the 25th of May and ended on the 24th of June.
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AMAN IPO for increasing the capital ends with an outstanding success of 166.6%
- United Arab Emirates: Thursday, June 29 - 2006 at 09:56
- PRESS RELEASE
Dubai Insurance and Re-Insurance Company (AMAN) announced that the IPO of shares for increasing the capital of the company has far exceeded the required percentage for increasing the capital.
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Posted by Janeta Novakovic, Assistant News EditorThursday, June 29 - 2006 at 09:56 UAE local time (GMT+4)
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This article was updated on Sun Oct 29 2006.
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