Dubai, UAE – 7 May 2014 – Jamal Al Hai, Chairman of the Founders Committee of Marka, a public joint stock company under incorporation with a capital of AED500 million, announced that the company will start the IPO refund tomorrow, May 8.
Al Hai said the final share percentage allocation is 2.735%, while the gross amount raised from the IPO amounted to AED10.354 billion, or a 36.5 oversubscription to the offered 275 million shares on offer. He said the subscribers will be notified in writing of the allocation of their shares, and the excess amounts will be refunded by manager’s check from the bank through which subscription was done, or through bank transfer to the subscriber’s account in the receiving bank, or through the iVESTOR card if used for subscription.
Al Hai said the Marka Founders Committee will send an invitation to shareholders for a General Assembly Meeting in the beginning of June.
Dr. Mahdi Mattar, CEO of CAPM Investment, the lead IPO manager of Marka, said: “The Marka IPO was a huge success. We are proud to be the lead manager of the IPO, which has set new standards in the ease of subscribing to new issues. In addition to establishing itself as the first public shareholding company that will operate in the retail and F&B sectors, Marka is also the first UAE company to be listed on the Dubai Financial Market in several years. The huge oversubscription that the company enjoys makes it at the forefront of some of the most successful IPOs that has appealed to the investors.”
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