Gulf Navigation Holding’s initial public offering to list on the Dubai Financial Market opens for subscription on Monday, July 24, 2006 for GCC nationals, companies, establishments and general firms under the Federal and Local Governments. The nominal value per share is AED1.00 with an additional AED0.02 as offering costs. The offer consists of 910,000,000 ordinary shares representing 55% of the company’s total issued share capital. The offer will remain open for subscription till August 07, 2006. SHUAA Capital is the Financial Advisory, Lead Manager and Book Runner for the IPO.
The receiving banks for the subscription in the UAE include National Bank of Abu Dhabi, Emirates Bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates Financial Services, Finance House, First Gulf Bank, Mashreqbank, National Bank of Fujairah, Union National Bank and HSBC. In addition to the UAE, HSBC will open its branches for subscription in Qatar, Oman and Bahrain.
The Company operates through a fully-integrated organisation structure, which provides the full spectrum of services for maritime liquid cargo transportation, maritime commercial agencies, vessels technical management and vessels in-port agency services.
About Gulf Navigation Holding:
Gulf Navigation Holding is an ISO 9001:2000 certified Dubai-based company and one of the leaders of the shipping and marine services industry in the region. It is a United Arab Emirates holding entity with operations worldwide and 11 specialised subsidiaries. The company owns and charters VLCCs, Chemical and Product Tankers. It is also the sole agent for a large number of global marine manufacturers.
For more information, please visit www.gulfnav.com or contact:
