Dubai: Shuaa Capital, the lead manager, financial advisor and sole bookrunner for Deyaar's IPO, yesterday announced the allocation percentages for the real estate company's recently concluded issue of Dh3.17 billion, which was oversubscribed by more than 14 times.
The allocation, conducted on a pro-rata basis, awarded subscribers in the first tranche of 6.35 million shares, a minimum guaranteed allocation of 2,000 shares each, plus 57 per cent of the remaining shares applied for; while those in the second tranche of close to 2.52 billion shares were allocated 4.7 per cent of shares applied for.
All teachers who applied will receive their full allocation of up to 20,000 shares and the rest will be allocated on a pro rata basis.
Zack Shahin, Deyaar chief executive, said: "We are moving rapidly towards listing on the Dubai Financial Market. As a first step, we have ensured that the allocation of shares and refund of the excess funds have been completed on schedule.
