Spinneys 1961 Holding plc is increasing the portion of its IPO allocated to UAE retail investors due to strong early interest.
More Shares for UAE Investors
Originally set at 5%, the UAE retail offering is now 7%. This means UAE investors will receive 63 million shares, out of a total 900 million offered. This translates to 25% of Spinneys’ issued shares.
Demand Drives Allocation Change
Strong investor demand during the first subscription phase led Spinneys to boost the UAE allocation. As a result, qualified investors (second tranche) will now get 837 million shares, or 93% of the total offering.
Subscription Dates and Price Range
The subscription period remains unchanged, closing on April 29th for UAE retail investors and April 30th for professionals. Shares are priced between Dh1.42 and Dh1.53 each, and Spinneys is expected to begin trading on the DFM on May 9th.
More Information Available
Details on the offering are available in the Arabic prospectus and public announcement for UAE retail investors, and the English International Offering Memorandum for qualified investors.
