|11-10-2014, 01:05 PM||#1|
IPO was 10 times oversubscribed, says Amanat Holdings
Amanat Holdings said on Saturday its initial public offering (IPO) was oversubscribed and shares have been allotted to investors proportionally.
In an emailed statement, Amanat, a healthcare and education startup, said it had amassed more than AED13.6 billion in its AED1.375 billion IPO that lasted 16 days. The company said it will list on the Dubai Financial Market (DFM), Dubai’s main index, in late November.
Amanat is the latest of UAE companies to go public, aiming to capitalize on the recent wave of optimism in markets in the region, amid a profound interest in fresh listings on markets after a long hiatus.
The Dubai Financial Market (DMF) has gained more than 33% since the start of the year, nearly doubled since the start of 2013.
The overwhelming amount of interest in Amanat’s IPO, and the oversubscription that came at a time of large uncertainty and volatility in markets indicates investor optimism in Amanat’s ability to fully benefit from the funds raised in the IPO.
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