(MENAFN- Khaleej Times) Almheiri said demand for the offered shares has continued to increase over the last few days.
subscricptions to the initial public offering of marka a public joint stock company under incorporation with a capital of dh500 million on its first week have surpassed initial expectations said khalid almheiri deputy chairman of the company’s founders committee.
the huge turnout reflects the investors’ confidence on the high growth potential of marka and the company’s capabilities to rapidly establish itself as the first public shareholding company that will operate in the retail and f&b sectors two of the fastest-growing sectors in the uae and the region.
almheiri said demand for the offered shares has continued to increase over the last few days. he said the company expects the subscription will peak this week with the participation from big individual or institutional investors as the ipo closes on thursday april 24.
he said the founders will notify the subscribers of their share allocation and will start the refunds on may 8.
almheiri added: “the marka founders committee will closely work with capm investment as its financial advisor and lead ipo manager and national bank of abu dhabi the lead receiving bank to ensure the completion of the subscription and allocation of shares in order to refund the over-subscribed amount quickly and efficiently including the offering cost.”
“subscribers will be notified in writing of the allocation of their shares and the excess amounts will be refunded by manager’s check from the bank through which subscription was done or through bank transfer to the subscriber’s account in the subscription bank or through the ivestor card if used for subscription.”
— business?khaleejtimes.com
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