The Founders Committee of Insurance House announced the successful completion of the company's IPO. An overall share capital of 120 million dirham has been collected in full.
Mohammed Abdulla Alqubaisi, Chairman of Insurance House Founders Committee said: "The IPO of Insurance House has broken the deadlock in the struggling UAE IPO market since more than two and a half years, and achieved outstanding success under very difficult circumstances caused by the political situation and the region's economic recession, in addition to the sharp downturn in the stock market during the subscription period".
Alqubaisi added: "The coverage of this IPO reflects the confidence of a significant segment of investors in our project, and we are committed to be extremely careful about their interests and the success of this new company".
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