Dubai-based telecom operator du has launched a secondary share sale that could raise up to Dh3.39 billion ($923 million), following the divestment of 342 million shares by Mamoura Diversified Global Holding, a Mubadala unit. The transaction increases du’s free float to 27.5 per cent and enhances market liquidity.
Chief financial officer Kais Ben Hamida said the offering provides investors with access to a “defensive sector” characterized by stable dividends and profitability, making it attractive for portfolio diversification. The price range for the sale has been set between Dh9 and Dh9.90 per share, with the final offer price to be announced on September 15.
The move also opens the path for du’s potential inclusion in global indices such as MSCI, which could further boost visibility among institutional investors. Ben Hamida highlighted the UAE’s favorable macroeconomic environment — including population growth, controlled inflation, low interest rates, and strong forex conditions — as a driver of investor appetite.
Du continues to expand aggressively, adapting to new technologies such as AI, cloud computing, and big data. The company has also restructured with the launch of du Tech, du Infra, and du Pay, while pursuing growth opportunities such as GPUs-as-a-service to meet rising demand for digital transformation across the UAE.
