Emirates News Agency – The top 10 business parks within the “TECOM” group represent a quality addition to the Dubai International Financial Market … and competitive advantages for investors

– With the start of the initial global public offering.

Listed 625 million ordinary shares, representing 12.5% ​​of the total issued shares of the company.

The Group expects to distribute a total cash dividend of 800 million dirhams per year over the next three years until October 2025, at an annual rate of 6% to 6.5%.

– Comparative advantages of the initial public offering: – “TECOM” is active in the sectors of information technology, media, science, education, design and industry.

The group includes 10 large business parks and hosts headquarters for more than 7,800 companies in various sectors, employing more than 100,000 employees and specialists.

Business parks include Dubai Internet Cities, Dubai Outsourcing, Dubai Media, Dubai Studios, Dubai Production, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Design District and Dubai Industrial City.

The Group has a strong and stable financial position and balance sheet supported by a strong portfolio that generates stable and high quality returns and cash flows.

Owns and operates a high quality and flexible real estate portfolio.

The group benefits from its affiliation with Dubai Holding, as TECOM is Dubai Holding’s leading commercial development and leasing arm.

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DUBAI, June 17 / WAM / The initial global public offering (IPO) of TECOM Group, a subsidiary of Dubai Holding, started yesterday in the Dubai Financial Market, as part of the strategy of the Dubai Capital Markets Development and Exchange Committee, i which seeks to list a group of large governmental and semi-governmental companies.Successful government in financial markets, with the aim of doubling the value of financial markets in the emirates to reach 3 trillion dirhams over the next period.

The TECOM Group, which manages 10 business parks specializing in many vital sectors, listed a portion of its ordinary shares in the Dubai Financial Market totaling 625 million ordinary shares, representing 12.5% ​​of the total shares of emitted.

TECOM Group has established its leading position in the field of business life parks in Dubai and is well positioned to make the most of the economic opportunities available during the current and future phases, depending on a number of factors, the main of which is whose is the state of growth witnessed by Dubai and the UAE in various sectors.

It owns and operates an outstanding real estate portfolio of high quality and flexibility, in strategically important locations in the Emirate of Dubai, and offers competitive work environments focusing on the ease of doing business within attractive and regulatory regulatory frameworks. supported by value added. services, long-term strategy.

The group enjoys a strong and stable financial position and balance sheet supported by a strong portfolio that generates stable and high quality returns and cash flows, relying on a specialist management team and experienced people, and an operating model. that adopts the highest standards of governance and sustainability.

The group benefits from its connection with Dubai Holding, which enjoys a prestigious position in Dubai and high operational efficiency, as “TECOM” is the main arm of commercial development and leasing of Dubai Holding real estate. The regional headquarters of large international companies, buildings dedicated to well-known universities and academic institutions, as well as research and development centers.

Business parks include Dubai Internet City, Dubai Outsource City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Design District and Dubai Industrial City.

The group hosts the regional headquarters of a large number of companies, numbering more than 7,800 companies, including international names such as Google, CNN and Unilever, in addition to thousands of developing and medium-sized companies, operated and managed. by a group of creative staff and entrepreneurs, numbering more than 100,000 employees, specialized talents and entrepreneurs.

According to the prospectus, the subscription period for buyers from qualified institutions and the excluded offer started yesterday, June 16 and will end on June 24, 2022, while the subscription period for individuals in the UAE started yesterday, June 16 and ends . on June 23, 2022.

TECOM Group intends to adopt a six-month dividend distribution policy, as it will pay cash dividends after the global offer, in October and April of each year, after receiving the approval of the Board of Directors and the General Assembly. The group expects to distribute a total dividend of 800 million dirhams in cash per year over the years. The next three until October 2025, an annual rate ranging from 6% to 6.5%. A company’s ability to distribute profits in cash depends on a number of factors, including the availability of distributed reserves, capital expenditure plans, and market conditions.

It is expected that the global offering, listing and trading of shares in “Listing” in the Dubai Financial Market will end on July 5, 2022, based on market conditions and obtaining relevant regulatory approvals in the UAE.

– Ml –

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