Spinneys, the renowned supermarket chain in the UAE, has announced its Initial Public Offering (IPO), inviting investors to become part of its growth journey.
UAE investors seeking to purchase shares in Spinneys’ initial public offering (IPO) may commence subscribing today, April 23, with the share price ranging between AED 1.42 and AED 1.53 per share.
Nine hundred million shares, each valued at AED 0.01, will be accessible in the IPO, representing 25% of the supermarket franchise’s overall issued share capital.
With the stipulated price range, Spinneys aims for an IPO size ranging from AED 1.278B to AED 1.377B.
Here’s a step-by-step guide on how to subscribe and invest in the Spinneys IPO:
- Ensure You Have Your National Investor Number (NIN): Before subscribing to the IPO, ensure you have your National Investor Number (NIN). If you don’t have one, you can register for it through the e-services portal on the Dubai Financial Market (DFM) website or the DFM Smart Services app. Alternatively, you can contact the DFM call center at +971 4 305 5555.
- Review the IPO Documentation: Thoroughly review the content and documents provided on the Spinneys IPO webpage to access detailed information about the company and its IPO. The Prospectus contains essential information about the company and the offering, enabling you to make an informed investment decision.
- Subscribe through Receiving Banks: Once you’ve decided to invest, subscribe to the offering through one of the Receiving Banks. Each Receiving Bank offers various channels for subscription, including online, in-branch, or through your bank relationship manager. You can find the list of receiving banks and their contact details on the Spinneys IPO webpage and in the Prospectus.
- Receive Allocation Notification: After subscribing, you will be notified of the number of shares allocated to you. It’s important to note that you may or may not receive the full allocation of your order. Any excess monies will be refunded to you accordingly.
Here are the contact details of the Receiving Banks for subscribing to the Spinneys IPO:
- Emirates NBD Bank PJSC: +971 800 (3623 476)
- First Abu Dhabi Bank: +971 2 616 1800
- Al Maryah Community Bank: +971 600 571 111
- Commercial Bank of Dubai: +971 4 212 1156
- Wio Bank: +971 600 500 946
For more detailed information and guidance on subscribing to the Spinneys IPO, refer to the UAE Prospectus or visit its website.
Investors are encouraged to seize this opportunity to become shareholders in one of the UAE’s leading supermarket chains, participating in its future growth and success.