The IPO generated strong demand, with the offering being 22 times oversubscribed, raising AED 773 million (USD 210 million) for a 10% flotation, valuing the company at AED 7.735 billion (USD 2.1 billion). Following the IPO, Al Ansari expects to pay AED 600 million (USD 164 million) in annual dividends, implying a 7.77% yield.
Adnan Fazli, Equity Capital Markets Partner, Financial Advisory at Deloitte Middle East said, “This is a landmark transaction, as it represents the first listing of the year on the Dubai Financial Market and the first large family-owned business coming to the public market. This demonstrates a practical option for family businesses to consider for their monetization and to achieve their capital raising objectives.”
Scott Whalan, Deloitte Middle East’s Family Enterprise Leader said, “Al Ansari’s IPO shows that the capital markets could help family enterprises accelerate their transformation and help fulfill their true potential. We are proud to have supported Al Ansari throughout this journey to IPO which marks another successful UAE listing.”
Deloitte was appointed as the independent due diligence advisor, providing the customary due diligence services on the project. As part of delivering the work, Deloitte worked closely with a large consortium of advisors, led by Emirates NBD Capital and including Abu Dhabi Commercial Bank, EFG Hermes, and Ibrahim & Partners.
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