du raises Dh3.15 billion in secondary share sale on 'strong investor appetite'

Mubadala unit Mamoura sells 7.55% stake in du through UAE’s first fully marketed SPO

Last updated: September 15, 2025 | 11:19

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du raises Dh3.15 billion in secondary share sale on 'strong investor appetite'

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Dubai: Emirates Integrated Telecommunications Company (du) has completed a secondary public offering that raised Dh3.15 billion for its shareholder Mamoura Diversified Global Holding, a subsidiary of Mubadala Investment Company.

The deal involved the sale of 342 million shares, equal to 7.55% of du’s share capital, at Dh9.20 each. Mamoura sold 75% of its stake in the company.

The offering was split into two parts:

UAE retail investors received 5% of the shares, with each subscriber guaranteed a minimum of 500 shares. Refunds for unallocated funds will be issued by September 16.
Institutional investors in the UAE and abroad took 95% of the shares, with settlement handled through the Dubai Financial Market.

Books were multiple times oversubscribed, reflecting strong demand from both local and international investors.

Also Read: du leans into data, digital expansion as Q1 profit surges nearly 20%

The transaction increases du’s free float to 27.7%, which is expected to boost trading liquidity and open the door for possible inclusion in global indices such as MSCI and FTSE.

du CEO Fahad Al Hassawi said the strong investor appetite showed confidence in the company’s strategy and its role in the UAE’s digital transformation.

Shares from the offering will be tradable on the Dubai Financial Market from September 16.

Justin VargheseYour Money Editor

Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence. Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.