Dubai – Emirates Integrated Telecommunications Company (du) announced on Monday the launch of a secondary share sale of 342.084 million shares, representing 7.5467% of its total issued capital. The offering is being made by Mamoura Diversified Global Holding (formerly Mubadala Development Company PJSC), which previously held a 10.06% stake in the telecom operator.
The shares, each with a nominal value of Dh1, are being offered at a price range of Dh9 to Dh9.90. The sale is expected to raise between Dh3.078 billion and Dh3.386 billion, depending on final pricing. Du’s shares closed at Dh9.90 on Friday.
If fully subscribed, Mamoura’s stake will fall to 2.52%. The Emirates Investment Authority (EIA) remains du’s majority shareholder with 50.12%, followed by DH 8 LLC at 19.67%. Public shareholders hold the remainder, comprising both UAE and international investors.
The subscription period runs from September 8 to 12, 2025, split across two tranches:
- Tranche 1 (Retail Investors): 5% of the offer, or 17.1 million shares, with a guaranteed minimum allocation of 500 shares per subscriber. The minimum application size is Dh5,000, with increments of Dh1,000.
- Tranche 2 (Institutional Investors): 95% of the offer, or 325 million shares, with a minimum subscription of Dh5 million.
Additionally, a 5% share sale offer will be allocated to the Emirates Investment Authority (EIA).
Emirates NBD is the lead receiving bank, while Abu Dhabi Commercial Bank, Emirates NBD Capital, and First Abu Dhabi Bank are joint lead managers. Subscriptions can be made via receiving banks’ branches, ATMs, and digital platforms across participating institutions.
Du recently reported a Dh921 million profit for H1 2025, up 15% from Dh801 million in the same period last year.
