UAE's Spinneys Holding plans a 25% IPO on DFM, selling 900M shares to expand in Saudi Arabia and raise funds.
UAE-based retail company Spinneys Holding plans to offer 25% of its shares through an IPO on the Dubai Financial Market (DFM), starting with a subscription period for retail investors on April 23. The company will sell 900 million shares, aiming to expand its reach into Saudi Arabia and maintain a 70% dividend payout ratio. The IPO aims to raise funds for geographical expansion and tap into the growing retail investor interest in the UAE.
April 16, 2024
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