Listing and trading of TECOM Group shares on the Dubai Financial Market

TECOM Group raised approximately 1.7 billion dirhams during its initial public offering, bringing its market value at 13.4 billion dirhams at the time of listing

It has been overwritten 40 times by individuals in the UAE, which is the highest coverage rate in the history of public offerings on the Dubai Financial Market

30% of the shares of the investor segment of qualifying institutions were allotted to international investors

The listing of TECOM Group increases the diversity of investment opportunities in the Dubai Financial Market, due to its strong foundations, a long history of success, and a leading position in the development and management of specialized business parks in the emirate.

Today, Tuesday, 5 July 2022, the trading of the shares of TECOM Group PJSC, which owns, manages and operates ten specialized business parks focused on key sectors in strategic areas in the Emirate of Dubai, is a major contributor to the promotion of growth. of economic sectors based on knowledge and innovation in the Emirate. , under the trading symbol “TECOM”, after the completion of its initial public offering and its successful listing on the Dubai Financial Market.

TECOM Group managed to raise about 1.7 billion dirhams through its initial public offering, and the final price of the global offering shares was set at 2.67 dirhams per share. The offer included the provision of 625 million (625 000 000) ordinary shares for subscription, representing 12.5% ​​of the total issued shares in the group’s capital. The global supply attracted strong demand, leading to a total coverage of the amount of shares offered by more than 21 times according to the final price, while the enrollment of individuals in the UAE recorded coverage of almost 40 times, which the highest coverage is ratio in the history of public offerings on the Dubai Financial Market to date. Due to the extraordinary interest in the offer by international investors, about 30% of the shares of the qualified institutional investors were allotted to them. DHL will remain the majority shareholder in TECOM Group with a stake of 86.5% (or 87.5% combined with DHL FZE LLC).

To celebrate the completion of its official listing, Malik Al Malik, Chairman of TECOM Group, today sounded the market opening bell in the presence of Amit Kaushal, CEO of Dubai Holding, Abdullah Belhoul, CEO of TECOM Group, and Hamid Ali, CEO of DFM and Nasdaq Dubai, along with a number of officials.

On this occasion, Malek Al Malek, Chairman of the Board of TECOM Group, said: “The listing of TECOM Group on the Dubai Financial Market is an important achievement for the Emirate of Dubai as a whole, and a historic step in the company. ‘s successful path. The transformation of the group into a publicly listed company will enable investors to benefit from its leading position. As a prominent contributor to Dubai’s vital business parks and its unique capabilities that enable it to take advantage of the promising opportunities that the emirate offers. and the strong foundations of its macroeconomics, TECOM Group will also play an important role in promoting the diversity and depth of financial markets in Dubai and will offer wider options to market participants. On behalf of the Board, I would like to welcome all our new shareholders, from all segments, and assure them that they will continue to work to achieve the best possible value for them in the long run. ”

In turn, Hilal Al Marri, Chairman of the Dubai Financial Market Board of Directors, welcomed the listing of TECOM Group on the Dubai Financial Market and pointed out that this step represents a new achievement that reflects the vision of wise leadership in development of the emirates’ financial markets and the improvement of its position as a major global center for capital markets. His Excellency said: “The success of the listing of TECOM Group, which is the second listing in the market within the emirate’s vision plan within three months, is a strong indication of the commitment of the Supreme Committee for the Development of Capital Markets and Exchanges led by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Governor of Dubai and Deputy The Prime Minister and Minister of Finance accelerated the implementation of the capital market development strategy and moved forward to achieve its objectives, and this listing is also evidence of the level of firm confidence in the market among the various participating parties.

Abdullah Belhoul, CEO of TECOM Group, said: “We are proud of the success of the group’s initial public offering and the start of a new chapter in our success story as a public company listed on the Dubai Financial Market. The extraordinary demand we have observed from a geographically diverse investor base is a clear indication of the great confidence in TECOM Group and what distinguishes it.It has a profitable business model, solid financial foundations and high operational flexibility.The strong investor appetite for the offer reaffirms their confidence in the company’s ability to implement its well-defined growth strategy and its firm commitment to the best standards of environmental, social and corporate governance, while welcoming our new shareholders, assuring them of our unwavering zeal to inform about our progress in implementing our corporate strategy and practices in the field of sustainability d. ”

In turn, Hamed Ali, Chief Executive Officer of the Dubai Financial Market and Nasdaq Dubai, said: “The listing of TECOM Group, which has a proven track record of developing and managing specialized business parks in Dubai, will highlight DFM’s strategy to promote diversifying investments. opportunities for the growing base of local and international investors. In addition to improving market value and diversifying its sectors, this move will support our efforts to facilitate companies’ use of market services, enable owners to offer their shares for sale, and provide a highly efficient platform for the raising capital.

It is noteworthy that the shares of TECOM Group in the real estate sector are listed and traded on the Dubai Financial Market. No price restrictions were applied to the rise or fall of the group’s shares during the first trading day, provided that they are applied from the second day of listing.


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