TECOM Group, part of Dubai Holding, plans to list its ordinary shares on the Dubai Financial Market on July 5 in an initial public offering.
According to a WAM statement, Tecom Group, which owns and operates 10 sector-specific business districts in Dubai, is offering 625 million ordinary shares, representing 12.5 percent of the company's issued capital.
The qualified institutional offering and the subscription period for the exempt offering are expected to run from June 16 to 24.
The subscription period for the UAE retail offering is expected to be from June 16 to 23.
The company is expected to pay dividends of 800 million dirhams (USD 218 million) per year for the next three years until October 2025.