1. Dewa is offering 3.25 billion shares, or a 6.5% stake in the company, in three tranches or portions to potential investors. But how much of that is for individual investors?
2. The first part of the shares is made available to “retail” investors, who are non-professional individual investors who invest themselves or through brokerage firms. These investors are those who have a UAE-based bank account and a DFM investor number (known as “NIN”).
3. The second part of the Dewa shares is intended for institutional investors (legal persons like banks, funds, insurers or any large institution), while the third part of the preliminary share offering is intended for eligible employees from Dewa.
4. While 260 million shares are offered to individual investors, 65 million shares are offered to eligible Dewa employees. At the same time, 2.925 billion shares are offered to professional or institutional investors. Each subscriber of shares will have a guaranteed minimum allocation of 1,000 shares.
5. While the minimum subscription size for individual investors and Dewa employees has been set at Dh5,000, any additional investment can be made in lots of at least Dh1,000. As far as institutional investors are concerned, the basic subscription has been set at 1 million dirhams. There is no maximum limit.
6. The subscription period for the share offering is expected to run from March 24 to April 2, which means that from March 24 potential investors will be able to subscribe or purchase shares. But before that, those wishing to reserve shares can submit their subscription forms through their respective banks and express their interest in purchasing shares.
7. After April 2, individual investors can no longer subscribe or purchase shares before the opening of the markets on April 12. Similarly, after April 15, professional or institutional investors can no longer subscribe or buy shares, the day after which their investments will be allocated.
8. Individual investors will officially be allocated shares on April 11, and this is also when excess subscription funds, if any, will be refunded. The price range at which you, as a potential investor, can subscribe to Dewa IPO shares will be published on March 24.