Amanat Plans $374 Million IPO on Dubai’s DFM Next Month - Bloomberg

Amanat Plans $374 Million IPO on Dubai’s DFM Next Month - Bloomberg:



"Amanat Holdings, a healthcare and education company under formation, plans to raise 1.375 billion dirhams ($374 million) in an initial share sale on the Dubai Financial Market starting in October.



The company intends to sell 55 percent of its shares at 1 dirham each when it opens subscription in the second half of next month, it said in an e-mailed statement today. Amanat, which was founded by 37 investors, will use its capitalization of 2.5 billion dirhams to set up and incorporate companies working in the healthcare and education industries across the six-nation Gulf Cooperation Council, according to the statement.



The success of IPOs from Marka PJSC and Emaar Malls Group has “increased the appetite” of companies to raise funds from the equity market, Wadah Al Taha, chief investment officer of Dubai-based Al Zarooni Group, said by phone. “There’s ample liquidity and conditions are favorable for existing businesses and the new ones with good prospects of success to raise finances now,” he said."



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