RIYADH: TECOM Group, a member of the Dubai Holding group, plans to list its ordinary shares on the Dubai Financial Market on July 5 in an initial public offering.
Tecom Group, which owns and operates 10 sector-focused business districts across Dubai, is offering 625 million ordinary shares, representing 12.5 percent of the company's issued capital, according to a statement by WAM.
The qualified institutional offering and the exempt offer subscription period are expected to run from June 16 to 24.
The UAE retail offer subscription period is expected to be from June 16 to 23, it added.
The company is expected to pay a dividend of 800 million dirhams ($218 million) per annum over the next three years through to October 2025.
