The initial public offering (IPO) is being run by the National Bank of Abu Dhabi and is open to UAE, GCC and foreign investors. It will close on 7 April.

At least 75 per cent of the floated shares will be reserved for UAE and GCC nationals, with the rest going to foreign investors.

Takaful al-Emarat, which specialises in life and health insurance, was only established in early March by Austrian insurance group Uniqa, and local property and health insurance firm Al-Buhaira.