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Islamic Finance Briefing - Categorized | Capital Market (Equity, Mutual Funds), New Launches more

National Takaful Company “Watania” IPO tomorrow

Posted on 18 April 2011

The National Takaful Company “Watania”, an Abu Dhabi based Sharia’a-compliant (Islamic) insurance company under establishment, will launch an Initial Public Offering (IPO) tomorrow to raise AED 82.5 million, representing 55% of the total share capital amid expectations of high participation due to strong growth potential of the Islamic insurance sector.

The National Bank of Abu Dhabi (NBAD) has been mandated as financial advisor, lead manager, and the receiving bank for the Watania IPO. Subscription will be accepted at all NBAD branches across the UAE starting from tomorrow (Monday) until May 1st 2011………………………………………Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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