Gulf Navigation Holding IPO to open on July 24

DUBAI — Shuaa Capital, the investment banking institution, yesterday announced the launch of the initial public offering (IPO) for the shares of Gulf Navigation Holding from July 24, 2006 until August 7, 2006.

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Published: Wed 19 Jul 2006, 10:19 AM

Last updated: Sat 4 Apr 2015, 3:12 PM

The company plans to raise Dh910 million, representing 55 per cent of the company's share capital, to be allocated over 910 million shares at an offer price of Dh1 per share, in addition to Dh0.02 as offering costs. The IPO will only be open to UAE and GCC nationals, both individuals and institutions.

Shuaa Capital is the financial advisory, lead manager and book runner for the IPO of Gulf Navigation Holdings.

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