Another mega IPO in Dubai is by TECOM group, they have announced to float 12.5% of its issued share capital on the Dubai Financial Market – DFM through a Initial Public Offering “IPO“
Just for your information TECOM handles 10 districts in Dubai – United Arab Emirates
- DUBAI INTERNET CITY
- DUBAI OUTSOURCE CITY
- DUBAI MEDIA CITY
- DUBAI STUDIO CITY
- DUBAI PRODUCTION CITY
- DUBAI KNOWLEDGE PARK
- DUBAI INTERNATIONAL ACADEMIC CITY
- DUBAI SCIENCE PARK
- DUBAI INDUSTRIAL CITY
- DUBAI DESIGN DISTRICT
Is it a opportunity?
Yes for sure its a very good opportunity to grab it with both hands. With 800 million AED annual dividends announced this looks very lucrative to keep it in our investment portfolio. The offering price is between Dh2.46 – Dh2.67 range and will be listed on DFM on july 5. Total of 625 million shares are offered in this IPO – 12.5 % in Tecom.
Over all I personally think this IPO will be over subscribed as this is a live time opportunity to buy the shares of this company at current levels. I am pretty sure this stock price will fly once listed as fundamentally this company is very strong with its powerful performance and amazing figures. It is quite obvious that if a IPO is over subscribed it will open higher on its listing day at least by 20% of its offered price which is a straight “win“
So the idea here is to try and grab as many shares possible to get bigger allotments to benefit from this IPO. Go for it, highly recommended!!
For sure I will be updating my technical anlaysis once its listed. For now if you would like to see the updates on Dubai Financial Market & Abu Dhabi Securities Exchange for FREE click here.
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This article is for education purpose only please do your own research.
All The Best!!