Abu Dhabi, March 22, 2005: The AED 900 million initial public offering of shares in Aabar Petroleum Investments Company PJSC will be open for public subscription starting on Saturday 9 April 2005 and will close on Thursday 21 April. The IPO will thus start immediately after Ras Al Khaimah Properties IPO subscription period closes on 7 April.
AED 495 million worth of shares, representing 55% of Aabar’s capital, will be on offer to UAE nationals and UAE companies at a nominal value of AED 1, with an additional 2 fils as subscription fees per share. .
A new allocation policy will be applied for the Aabar IPO. The new allocation policy will allow both small and large investors to participate equitably in Aabar’s IPO. Aabar will communicate final details on allocation to investors shortly. According to senior bankers working on the transaction, this is an exciting opportunity for UAE Nationals to participate in an IPO that is expected to be successful thanks to Aabar’s excellent growth potential and the equitable allocation policy being implemented. The National Investor (TNI), which is acting as the financial advisor, lead manager, and book runner for the IPO, indicated its commitment to developing the capital markets in the region by launching innovative and ground-breaking deals..
From its base in Abu Dhabi, Aabar will be acquiring existing companies in the oil and gas services sector and with their own fleet of offshore and onshore rigs. The objective of Aabar will be to invest in commercial and industrial projects in the oil and gas industry with a primary focus on drilling and related oilfield services inside and outside the UAE. The Aabar IPO is being lead managed by The National Investor (TNI), the leading manager of IPOs in the UAE. The company is acting as the financial advisor, lead manager and book runner for the initial public offering.
About the National Investor: The National Investor (TNI) is a leading UAE investment and advisory firm with a distinguished track record in fundraising, advisory services, asset management, and private equity investments. The Company is backed by over 65 UAE shareholders who come from the highest echelons of the business and political community. TNI is actively involved in investment banking, private equity, and asset management and is currently ranked as the leading arranger of public share offerings, having lead managed the largest number of public offerings in the UAE to date. For more information, please visit www.nationalinvestor.ae.