December 2, 2022

Dubai Week

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TECOM Group announces its intention to list in the Dubai Financial Market

TECOM Group announces its intention to list in the Dubai Financial Market

TECOM Group, a subsidiary of Dubai Holdings, has announced its intention to continue its initial public offering and list a portion of its regular shares in the Dubai Financial Market.

The Group owns and operates 10 specialty business parks focusing on key sectors in strategic areas within the Emirate of Dubai, and plays a key role in developing knowledge-based sectors in the United Arab Emirates.

Minus attributes

The availability of 625 million ordinary shares to the public subscription, which represents 12.5% ​​of the total shares issued in the capital of the “TECOM Group”, is the most important aspect of global equity issuance. The group expects to disburse an annual cash dividend of 800 million dirhams over the next three years (until October 2025).

According to the report, the subscription period and exemption offer for eligible corporate buyers is expected to start on June 16, 2022 and end on June 24, 2022, and the subscription period for individuals in the UAE will start on June 16, 2022. , And will end on June 23, 2022. The shares will be listed and traded on the Dubai Financial Exchange on July 5, 2022.

Seller Partner

The report clarifies that “DHIM” (sales partner), also known as “Dubai Holding Asset Management” or “DHAM”, reserves the right to revise the global offer size at any time before the end of the subscription period. Following approval, the UAE Securities and Commodities Authority is the majority shareholder in the DHIM TECOM Group, while Dubai Holding is the parent company.

In addition, the Internal Sharia Oversight Committees of Emirates NBD and First Abu Dhabi Bank have, in their opinion, issued statements confirming the conformity of the global concession with the rules of Islamic Sharia.

Team role

Malik Al Malik, Chairman of TECOM Group of Directors, said: “Our leadership is defining new goals and aspirations to advance the parade of excellence and innovation in the business sector. The competitiveness of the economy has strengthened Dubai’s global business hub and a preferred destination for attracting talent from around the world. “

He added: “For more than two decades, the (TECOM Group) has been making significant contributions to achieving these ambitious aspirations and has been instrumental in building the knowledge economy in the country by attracting international companies and the best talent in six strategic sectors. , Promotes easy business in the United States. The company has been successful in providing an integrated and dynamic business environment that enables current and potential customers to grow, succeed and achieve their goals, while at the same time accelerating with developments in global sectors and the most important future trends of the workplace. ”

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Al-Malik added: “By listing on the Dubai Financial Market (TECOM Group), we look forward to expanding our contribution to supporting the financial markets in the Emirate, enhancing our efforts to enhance targeted key sectors, and stabilizing Dubai’s position globally. It sets up a unique opportunity for investors who want to own shares in a leading company.

Strategic driver

In the same context, TECOM Group CEO Abdullah Belhole said: “We at the Group are keen to continue our role as the strategic driver of the business sector in Dubai by creating 10 world-class specialty and vibrant business parks. . By delivering the latest innovative solutions to over 7,800 customers and over 100,000 employees and specialists, we have been able to achieve a leading and reputable position with our commitment to keep pace with digital transformation and ensure an easy and smooth journey for our customers. Talents and Entrepreneurs. “

Bellhole added: “The Group maintains its unique position at the forefront of innovation, and from 2021 to the 2022 quarter, achieved significant achievements, particularly the opening of regional headquarters for major international organizations. Buildings dedicated to major universities and educational institutions and research and development centers. Our prestigious record is a clear testament to the company’s high confidence in its capabilities, and also reflects the pioneering role of the Dubai Emirate, a preferred destination for ambitious companies looking for new opportunities.

Bellhole concluded: “The initial public offering (TECOM Group) marks the beginning of a new chapter in the development process and we are committed to continuing our key role in supporting the growth of business organizations and strategic sectors in Dubai. Stimulates opportunities for new growth in a variety of sectors.


The most important benefits of investing in a TECOM group

The “TECOM Group” has established its position in the major commercial parks sector in Dubai and is in a position to revitalize the commercial real estate market in the Emirate and take advantage of available economic opportunities.

The group owns and operates a portfolio of reputable real estate assets of key quality and flexibility in key strategic locations in the Emirate of Dubai, and offers competitive work environments focused on facilitating business within an attractive regulatory framework supported by value-added. Added services.

The Group is characterized by a growing and diversified platform of the most important international and regional companies, with long-term strategic relationships, attractive financial position and strong portfolio-backed reserves of income and sustainable and high quality cash flows.

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Registration administrators and clerks

Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs International, Morgan Stanley & Co. International PLC and UBS AG London Branch have been appointed as Joint Global Coordinators and Joint Registration Managers.

In addition to Abu Dhabi Islamic Bank, Ajman Bank, Dubai Commercial Bank, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank and Sharjah Islamic Bank, Emirates NBD Bank has also been appointed as the major subscriber bank. Like getting banks.

Pieces of subscribers

Global offer subscriptions are available to individual subscribers, other investors and qualified Dubai Holding Group employees (as described in the Prospectus for public offering of shares to individuals in the UAE) as part of a personal subscription in the United Arab Emirates.

It is available to professional investors and other investors in many countries, including the UAE, in addition to the United States, as part of a buyer’s subscription and discount offer from eligible companies.

The Emirates Board of Investment is entitled to a subscription of up to 5% of the global offer, and the percentage of the shares offered to the Emirates Board of Investment must be fully allocated before subscribers can begin any allotment process.

The subscription period begins

The subscription period for retail investors in the UAE is expected to start on June 16, 2022 and end on June 23, 2022, while the subscription period for eligible investors is expected to start on June 16, 2022 and end on June 24, 2022.

The global issuance, listing and trading of shares in the Dubai Financial Market in July 2022 is currently expected to receive relevant regulatory approvals in the UAE, including listed approvals, depending on market conditions.

Shares owned by a “sales partner” are subject to certain terms and conditions that are subject to a “prohibition period” after the end of the global issuance process.

Kaushal: The team is ready for a new and promising phase

Amit Kaushal, Group CEO, Dubai Holdings, said: “This has helped us to play a key role in the diversification of business development and real estate leasing (Dubai Holding) into a major division (TECOM Group). Dubai drives the economy of the Emirate and the growth cycle of the Dubai economy. “Creating businesses and promoting innovation.

He added, “We look forward to supporting you (TECOM Group) as a successful and leading developer of integrated and innovative business organizations, and a preferred partner for both multinationals and entrepreneurs in the region.” Kaushal continued: “We believe that (TECOM Group) is ready to embark on a new and promising phase as a public company listed on the financial markets. By retaining a majority stake in the company, we will be fully committed to working with new shareholders to support the company’s expansion and growth aspirations and to integrate its core role as a key driver for the growth of the knowledge-based economy in Dubai. And the region in general. “

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“TECOM” is a strategic engine for the business sector in Dubai, creating 10 world-class exclusive and powerful business parks.

சந்த The subscription period for individuals in the United Arab Emirates starts on June 16 and ends on June 23, 2022.

Dividend Policy and Company Vision

The TECOM Group aims to maintain a dividend policy in line with the company’s expectations of achieving large cash flows, while allowing the group to maintain sufficient capital to finance its current operating needs and to sustain long-term investment. Development.

The dividend policy is, at all times, subject to the approval of the Board of Directors and the General Assembly of the Company.

The Group intends to adopt a half-yearly dividend distribution policy to distribute cash dividends after the global offering. This dividend will be paid out in October and April each year.

Over the next three years (until October 2025) AED expects to disburse an annual cash dividend of $ 800 million.

The first tranche is expected to pay an interim dividend of 200 million dirhams in October 2022 and an interim dividend of 200 million dirhams in April 2023. The company’s performance in the second half of 2022.

Thereafter, it is expected to distribute the planned half-yearly interim dividend of 400 million dirhams for each interim period, in April and October each year, for the remaining dividend policy period.

625 million shares

The global offering includes the public offering of 625 million shares, representing 12.5% ​​of the total shares issued by TECOM Group in the capital.

All of these shares are considered current shares owned by the “sales partner” and the company receives no return from this global offering.

Under the laws in force in the United Arab Emirates, the “sales partner” reserves the right to change the size of the global offer at any time after the end of the subscription period, upon approval of the securities and goods. Authority in the United Arab Emirates.

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