Empost IPO and prospectus
Emirates Post IPO
The Emirates Post IPO was planned for April 2007, then reported to be June/July 2007, then reported to be in the fourth quarter of 2007. Emirates Post is also reportedly going to list on both DFM and ADSM which would make it the first company to have a dual listing on both UAE markets.
Previous information indicated it would be 40% of the total share capital. If size of IPO share offered was AED 3 billion or AED 3.67 billion (both figures heard in March 2007), then total possible share capital would be between AED 7.5 billion and AED 9.2 billion. The 40% figure is old though, and may not be correct. Most IPOs in the UAE have floated 55% of total share capital but occasionally less (eg 20% for the Dubai Financial Market IPO at the end of 2006).
The largest IPO in the UAE up to May 2007 was the Deyaar Development IPO at AED 3.2 billion, which trumped the Air Arabia IPO at AED 2.67 billion in March 2007. The Emirates Post IPO may make it to first place.
See also Dubai and Abu Dhabi IPOs - list of past, current, and future IPOs in the UAE.
This page will be updated as further information comes to hand and / or when the Empost IPO Prospectus is issued. Interested investors who do not have an investor card for ADSM or DFM could get that organised in preparation. See first step below.
If you want to sign up for the Emirates Post IPO, you need to do a couple of things.
Information from the Emirates Post IPO prospectus with list of receiving banks and other details will be below when available. To discuss and read comments about the Empost IPO, visit the Emirates Post IPO discussion or see the Emirates Post IPO forum on DubaiShareTalk.
This is not the official Emirates Post IPO prospectus. Obtain it from one of the receiving banks. Section highlighting by ShareWadi.com
Emirates Post IPO Prospectus
(Under establishment in the Emirate of [unknown yet], United Arab Emirates)
Notice for the Initial Public Offering of [unknown yet] common Shares to individual and institutional investors from the United Arab Emirates, [and other countries - possibly], representing 40% [not confirmed] of the Company’s share capital at an Offer Price of AED 1.00 [not confirmed] per Share (with an additional AED 0.02 [not confirmed] per Share in Offering Costs) payable in full upon subscription.
Emirates Post [PJSC - not confirmed] (under establishment) (the “Company”)
Description of the the company Emirates Post / EmiratesPost / Empost (different names, same company) to be added.
The Founding Shareholders (the “Founders")
Emirates Post founding shareholders to be added.
The Founders Committee
Emirates Post founders committee to be added.
Name - Position
Board of Directors
Name - Position
Executive Chairman - Abdullah Ebrahim Al Daboos (appointed December 2007)
Dividend Policy unknown yet
Financial Year and First Financial Period
The financial year of the Company will start on January 1 and end on December 31 [assumed but not confirmed]. The first financial year of the company will start upon incorporation of the Company and will end on December 31 of the following year [assumed but not confirmed].
Summary of the Offering [information to be added]
Tranches: [information to be added]
Important Dates [information to be added]
Subscription and Incorporation Expenses
[Information to be added - probably 0.02 dhs per share]
Documentation Required by Subscribers
Subscribers shall submit the following documents along with their subscription application:
A. Individuals [information below assumed but not confirmed]
1. UAE Nationals:
2. Non UAE Nationals:
3. If applying under specific Tranches:
B. Any entity or organization [information below assumed but not confirmed]
1. Formed in the UAE
2. Formed outside the UAE, including UAE Free Zones
True copies of documents must be verified by presentation of the original or by written certification by any of the following; a notary public, embassy, bank, lawyer, or accountant.
All Applicants [information below assumed but not confirmed]
All submitted documents must be valid on the Offering Closing Date.
All subscribers must submit a copy of the ADSM/DFM Investor No. card, if one is already issued in the subscriber’s name. It is encouraged that subscribers who do not have an ADSM/DFM Investor Number apply for one prior to submitting the subscription application.
Offering prospectus & subscription application forms will be available at the IPO designated branches of the following receiving banks:
Bank - Contact tel numbers
[Information to be added]
Interested investors are required to submit the subscription form at one of IPO designated branches of the above-mentioned receiving banks, during the Offering period.
This is not the official Emirates Post IPO prospectus. You should obtain it from one of the receiving banks (see list above).
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