UAE-based healthcare start-up to open subscription in October
Healthcare and education start-up Amanat Holdings is planning to launch an AED1.4bn ($270m) initial public offering (IPO) on the Dubai Financial Market in the second half of October.
The offering will be listed on Dubais main exchange, the Dubai Financial Market (DFM).
Amanat has been founded by 37 local and international investors and plans to offer shares at a price of AED1.00 per share. The offering represents 55 per cent of the companys total share capital of AED2.5bn.
Amanat says it will use its total capitalisation to establish and incorporate companies in the healthcare and education sectors within the GCC.
Most its capital will be used to finance acquisitions or partnerships with existing or under-development companies, with just 5 per cent of its capital to be used to establish new ventures.
Amanat will also develop and fund infrastructure projects related to the expansion of its acquired companies.
Trading of Markas shares on the DFM began in September.
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