Al Ansari Financial Services increases the number of shares allocated to Retail Investors in Its Initial Public Offering

• The UAE Retail Offer increased to 56,250,000 ordinary shares from 37,500,000 ordinary shares as a result of very strong demand from retail investors, equivalent to 7.5% of the
750,000,000 ordinary shares on offer up from the previously announced 5.0%
• The Global Offering size remains unchanged at 750,000,000 ordinary shares, which is 10% of Al Ansari Financial Services’ issued share capital
• The Qualified Investor Offer has subsequently been reduced to 693,750,000 ordinary shares from 712,500,000 ordinary shares, equivalent to 92.5% of the total shares on offer down from
the previously announced 95.0%
• The subscription periods for the UAE Retail Offer and the Qualified Investor Offer remain the same, with the former closing yesterday, 23 March 2023, and the latter set to close today,
Al Ansari Financial Services PJSC (under incorporation in the Emirate of Dubai, UAE, as a Public Joint Stock Company) (“Al Ansari Financial Services” or the “Group” or the “Company”), one of the leading integrated financial services groups in the UAE, today announces that following the approval from the Securities and Exchange Authority (“SCA”), Al Ansari Holding LLC (the “Selling Shareholder” or “Al Ansari Holding”) has exercised its right to increase the number of shares offering in the UAE Retail Offer of the Group’s initial public offering (“IPO” or the “Global Offering”) to 56,250,000 (fifty-six million two hundred fifty thousand) ordinary shares from 37,500,000 (thirty-seven million five hundred thousand) ordinary shares in response to very strong demand from retail investors and elevated oversubscription of the UAE Retail Offer.

A total of 750,000,000 (seven hundred and fifty million) shares, equivalent to 10% of the Group’s issued share capital, are on offer. Subsequently, given the decision by the Selling Shareholder to increase the allotment to the Retail Investor Tranche, the Qualified Investor Tranche will be allotted 693,750,000 (six hundred ninety-three million seven hundred fifty thousand) ordinary shares, instead of 712,500,000 (seven hundred and twelve million five hundred thousand) ordinary shares.

Based on the previously announced price range of AED 1.00 to AED 1.03 per share, the size of the Retail Tranche will now be between AED 56.3 million and AED 57.9 million, representing a total of 7.5% of the IPO size.

All of the Shares are existing shares, with Al Ansari Holding selling 10% of its ownership in the Group. The Group will not receive any proceeds from the Global Offering. Following the Global Offering, the Selling Shareholder will continue to hold a stake of 90%.

The IPO subscription period remains unchanged. The UAE Retail Offer closed yesterday, 23 March 2023, and the Qualified Investor Offer will close today, 24 March 2023.

The final offer price will be determined through a book-building process upon the close of the Qualified Investor Offer and is expected to be announced on or around 27 March 2023.

The completion of the Offering and Admission is currently expected to take place on 6 April 2023, subject to market conditions and obtaining relevant regulatory approvals in the UAE, including approval of Admission to listing and trading on the DFM.


Al Ansari Financial Services Brunswick Group
Dana Khalaf
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Celine Aswad
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+971 4 391 3928

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