Al Ansari Financial Services, an exchange house based in the UAE, has increased the retail tranche of its ongoing IPO from 5% to 7.5% of its share capital due to strong investor demand. The global offering size of 750,000,000 ordinary shares, which represents 10% of the company’s issued share capital, remains the same.
However, the qualified investor tranche has been reduced to 693,750,000 ordinary shares from 712,500,000 ordinary shares, which is now equivalent to 92.5% of the total shares on offer, down from the previously announced 95%. The company announced this information in a statement on Friday.
The retail tranche of the IPO will now represent 7.5% of the total IPO size, which equates to a range of AED 56.3M to AED 57.9M, based on the previously announced share price range of AED 1.00 to AED 1.03 per share.
