{"id":101917,"date":"2025-03-21T00:00:00","date_gmt":"2025-03-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mubadala-weighs-a-follow-on-equity-offering-of-its-holding-in-telecom-giant-du-on-the-dfm\/"},"modified":"2025-03-21T00:00:00","modified_gmt":"2025-03-21T00:00:00","slug":"mubadala-weighs-a-follow-on-equity-offering-of-its-holding-in-telecom-giant-du-on-the-dfm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/03\/21\/mubadala-weighs-a-follow-on-equity-offering-of-its-holding-in-telecom-giant-du-on-the-dfm\/","title":{"rendered":"Mubadala weighs a follow-on equity offering of its holding in telecom giant du on the DFM"},"content":{"rendered":"

Mubadala <\/strong>could offload part of its stake in telecom operator du:<\/strong> Abu Dhabi sovereign wealth fund Mubadala Investment is reportedly looking to float at least a portion of its USD 1 bn stake in Dubai-listed Emirates Integrated Telecommunications Company (du)<\/a> on the DFM, Bloomberg<\/a> reports, citing people it says are familiar with the matter. <\/p>\n

Refresher: <\/strong>The fund offloaded a 10% stake in du to Emirates Investment Authority (EIA) back in 2019 for USD 630 mn, retaining 10% ownership through its subsidiary Mamoura Diversified Global Holding. EIA is currently du\u2019s largest shareholder.<\/p>\n

What we know:<\/strong> The fund reportedly enlisted Emirates NBD, First Abu Dhabi Bank and Goldman Sachs to advise on the potential transaction, though the size and timing of the sale remain under wraps.<\/span><\/p>\n

Du\u2019s share price has been on the rise: <\/strong>The telecom operator\u2019s share price rose 0.25% to AED 8.12 apiece on yesterday\u2019s close, up nearly 40% from June 2019 when Mubadala sold down its position to EIA.<\/p>\n

Strong financials + record high dividends:<\/strong> Du\u2019s net income was up 49.10% y-o-y to AED<\/a>2.5 bn<\/a> last year, while its revenues were up 7.30% to AED 14.6 bn. The firm also recently approved<\/a> a AED 0.34 per share dividend for 2H 2024, bringing total dividends to AED 0.54 per share for the year, representing 54% of the nominal share value, its highest-ever dividend distribution, according to the business news service.<\/p>\n","protected":false},"excerpt":{"rendered":"

The bank tapped banks to advise on the transaction<\/p>\n","protected":false},"author":1,"featured_media":101918,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[1468,7,1344,60,1343],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-du","tag-enterpriseam-uae","tag-ma","tag-ma-watch","tag-mubadala","wpautop","entry"],"acf":{"mongo_id":"fff11b9a-9619-4133-88c1-72beba92c8e3","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2435.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mubadala weighs a follow-on equity offering of its holding in telecom giant du on the DFM","related_issue":[101905],"teaser":"The bank tapped banks to advise on the transaction","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.c2e4cddb-6941-477b-a112-b7ebf01be219.mp3"},"yoast_head":"\nMubadala weighs a follow-on equity offering of its holding in telecom giant du on the DFM - 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