AMAN invites IPO subscribers to collect stock-ownership certificates
The Dubai Islamic Insurance and Reinsurance Company (AMAN) has advised shareholders that their stock-ownership certificates are now available for collection. Shareholders should bring with them the allotment notification to obtain their documents at AMAN headquarters in Dubai.
The IPO, which offered 55 percent of the company's equity at 10 Emirati dirhams ($2.7) per share was open to investors in lots of a minimum of 1,000 shares, up to a maximum of 100,000 shares. Some 4,510 investors registered for the floatation, leaving the Dh 33 million IPO five times oversubscribed and raising over Dh 183 million.
Dubai Islamic Insurance and Reinsurance Company (AMAN) is a public national company. Aman shareholders include leading investors such as Dubai Islamic Bank, the Investment Office, and a wide cross-section of other investors.
As an Islamic insurance company, Aman relies on the guidance of its Fatwa and Sharia Disciplinary Committee, made up of a number of specialists in Islamic economics and Sharia law. Aman manages and invests clients' funds through speculation, where any surplus from insurance operations is distributed annually among policyholders. This allows them to enjoy investment as well as insurance services. — (menareport.com)
© 2003 Mena Report (www.menareport.com)