du Launches Secondary Public Offering of Its Shares

Emirates Integrated Telecommunications Company (du), a leading telecommunication and digital services provider in the UAE, on Monday announced the launch of a secondary public offering of shares of the company.

The shares will be offered by Mamoura Diversified Global Holding (Mamoura), a subsidiary of Mubadala Investment Company, du said in a regulatory disclosure with Dubai Financial Market (DFM) this morning.

The Offering comprises a secondary public offering of up to 342,084,084 shares in du, offered by the Mamoura representing 7.55% of du’s share capital and 75% of Mamoura’s stake in the company.

The price range has been set between $2.45 and $2.7 per share and the final offer price per share will be determined through a book-building process and will be announced on 15 September 2025.

The offering will comprise two tranches, the UAE retail offer, comprising 5% of the shares, which is open to individual and other investors (including companies and establishments) holding a National Investor Number (NIN) with the DFM; and a global offering comprising 95% of the offer shares to qualified institutional investors in the UAE and various other jurisdictions outside the US, in accordance with Regulation S under the US Securities Act of 1933 and in the US to qualified institutional buyers as defined in, and pursuant to, Rule 144A under the US Securities Act.

Investors in the UAE retail offer will subscribe for the offer shares at the Final Offer Price and all shares to be offered are existing shares held by Mamoura. The Company will not receive any proceeds from the sale of the offer shares.

Shares in the company held by Mamoura which are not sold in the offering will be subject to a lock-up period of 90 days from the settlement date, subject to certain customary exceptions and waiver by the Joint Global Coordinators.

Abu Dhabi Commercial Bank, Emirates NBD Capital, First Abu Dhabi Bank and Goldman Sachs International are acting as Joint Global Coordinators and Joint Bookrunners and Emirates NBD Bank has been appointed as the Lead Receiving Bank.

Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al Maryah Bank Community Bank, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank and Wio Bank have also been appointed as Receiving Banks.

UAE Retail Offer

The subscription period for the UAE Retail Offer commences at 9 a.m. (Dubai time) on 8 September 2025 and is expected to close at noon (Dubai time on 12 September 2025. Each retail investor who subscribes to the offer shares must subscribe either through the electronic channels or retail branches of the Lead Receiving Bank, one of the appointed Receiving Banks or through the DFM e-subscription channels.

The subscription period for the Qualified Investor Offering commenced on Monday at 9 a.m. (Dubai time) and is expected to close at 3 p.m. (Dubai time) on 12 September 2025.

“The transaction offers a great opportunity for retail and institutional investors to participate in du’s growth story. Over the last few years, our UAE-focused strategy and efficient capital deployment have resulted in exceptional financial and operational performance, and created significant value to du’s shareholders.