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Empost IPO and prospectus
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Emirates Post IPO
The Emirates Post IPO was planned for April 2007, then reported to be June/July 2007, then reported to be in the fourth quarter of 2007. Emirates Post is also reportedly going to list on both DFM and ADSM which would make it the first company to have a dual listing on both UAE markets.
Previous information indicated it would be 40% of the total share capital. If size of IPO share offered was AED 3 billion or AED 3.67 billion (both figures heard in March 2007), then total possible share capital would be between AED 7.5 billion and AED 9.2 billion. The 40% figure is old though, and may not be correct. Most IPOs in the UAE have floated 55% of total share capital but occasionally less (eg 20% for the Dubai Financial Market IPO at the end of 2006).
The largest IPO in the UAE up to May 2007 was the Deyaar Development IPO at AED 3.2 billion, which trumped the Air Arabia IPO at AED 2.67 billion in March 2007. The Emirates Post IPO may make it to first place.
See also Dubai and Abu Dhabi IPOs - list of past, current, and future IPOs in the UAE.
This page will be updated as further information comes to hand and / or when the Empost IPO Prospectus is issued. Interested investors who do not have an investor card for ADSM or DFM could get that organised in preparation. See first step below.
In the meantime, the Emirates Post IPO discussion and Emirates Post IPO forum will have updated information and news.
If you want to sign up for the Emirates Post IPO, you need to do a couple of things.
1. Go to the ADSM (Abu Dhabi Securities Market) and DFM (Dubai Financial Market) to obtain investor number for each of the markets (this information will be updated as soon as it is known which market on which the EmiratesPost IPO is going to list but you can sign up to both markets in the meantime. It is assumed that EmPost will not be listing on DIFX). You can either do this directly, or some of the ADSM and DFM brokers will do this for you. See the new investors page for the sign up procedure, and the UAE stockmarket subscription forms page for the paperwork. See the brokers page for a list of brokers, or the broker discussion list for opinions and comments.
2. Go to one of the receiving banks (unknown which ones as yet; as soon as the IPO is officially announced, the list of receiving banks should be available and will be added here) to collect the Emirates Post IPO subscription forms. Fill them in as per instructions and hand them back to the receiving bank along with money and any other required paperwork needed. Then wait.
Information from the Emirates Post IPO prospectus with list of receiving banks and other details will be below when available. To discuss and read comments about the Empost IPO, visit the Emirates Post IPO discussion or see the Emirates Post IPO forum on DubaiShareTalk.
This is not the official Emirates Post IPO prospectus. Obtain it from one of the receiving banks. Section highlighting by ShareWadi.com
Emirates Post IPO Prospectus
(Under establishment in the Emirate of [unknown yet], United Arab Emirates)
Notice for the Initial Public Offering of [unknown yet] common Shares to individual and institutional investors from the United Arab Emirates, [and other countries - possibly], representing 40% [not confirmed] of the Company’s share capital at an Offer Price of AED 1.00 [not confirmed] per Share (with an additional AED 0.02 [not confirmed] per Share in Offering Costs) payable in full upon subscription.
Emirates Post [PJSC - not confirmed] (under establishment) (the “Company”)
Description of the the company Emirates Post / EmiratesPost / Empost (different names, same company) to be added.
The Founding Shareholders (the “Founders")
Emirates Post founding shareholders to be added.
The Founders Committee
Emirates Post founders committee to be added.
Name - Position
Board of Directors
Name - Position
Management
Executive Chairman - Abdullah Ebrahim Al Daboos (appointed December 2007)
Dividend Policy
Dividend Policy unknown yet
Financial Year and First Financial Period
The financial year of the Company will start on January 1 and end on December 31 [assumed but not confirmed]. The first financial year of the company will start upon incorporation of the Company and will end on December 31 of the following year [assumed but not confirmed].
Auditors
[unknown]
Summary of the Offering [information to be added]
- Share Capital:
- Offered Shares:
- Offer Price:
- Eligible Investors:
- Summary of Subscription and Allocation Policy: Upon the closing of the Offering, the Offer Shares will be allocated as follows:
Tranches: [information to be added]
- Size of Tranche:
- Restrictions:
- Allocation:
- In case the number of submitted applications exceeds the maximum number of applications available for the Tranche:
- If the number of Shares subscribed to does not cover the Offer Shares in the Tranche:
Important Dates [information to be added]
- Offering Opening Date
- Offering Closing Date
- Allotment Date
- Refund Date Receiving Banks in the UAE, Receiving Banks in the GCC.
Subscription and Incorporation Expenses
[Information to be added - probably 0.02 dhs per share]
Subscription Procedure
Documentation Required by Subscribers
Subscribers shall submit the following documents along with their subscription application:
A. Individuals [information below assumed but not confirmed]
1. UAE Nationals:
•
A true copy of a valid passport
•
A true copy of the national family book (Kholaset Kaid) including the
cover, the pages that contain details of the family head and of the subscriber
2. Non UAE Nationals:
•
A true copy of a valid passport
3. If applying under specific Tranches:
B. Any entity or organization [information below assumed but not confirmed]
1. Formed in the UAE
•
A true copy of a valid trade license
•
Proof of representative’s authority to submit, sign and accept
the terms and conditions of the subscription application on behalf of
the entity
2. Formed outside the UAE, including UAE Free Zones
•
A true copy of a valid certificate of incorporation or registration,
or equivalent.
•
Proof of representative’s authority to submit, sign and accept
the terms and conditions of the subscription application on behalf of
the entity.
True copies of documents must be verified by presentation of the original or by written certification by any of the following; a notary public, embassy, bank, lawyer, or accountant.
All Applicants [information below assumed but not confirmed]
All submitted documents must be valid on the Offering Closing Date.
All subscribers must submit a copy of the ADSM/DFM Investor No. card, if one is already issued in the subscriber’s name. It is encouraged that subscribers who do not have an ADSM/DFM Investor Number apply for one prior to submitting the subscription application.
Receiving Banks
Offering prospectus & subscription application forms will be available at the IPO designated branches of the following receiving banks:
Bank - Contact tel numbers
[Information to be added]
Interested investors are required to submit the subscription form at one of IPO designated branches of the above-mentioned receiving banks, during the Offering period.
This is not the official Emirates Post IPO prospectus. You should obtain it from one of the receiving banks (see list above).
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This page last updated 22-Dec-2007.
E & OE.