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Islamic Finance Briefing - Categorized | Capital Market (Equity, Mutual Funds), Insurance (Takaful) more

Watania IPO 7 times oversubscribed

Posted on 03 May 2011

Abu Dhabi’s newest insurance company, the National Takaful Company, or Watania, made a splash in the equity markets with its public issue seven times oversubscribed. The IPO, which was opened on April 18 and concluded on May 1, received an overwhelming response as applications for 590 million shares were received for the 82.5 million shares offered to the public.
Watania is the second company which has tapped the equity markets this year. Earlier, Insurance House raised capital from the market, while Eshraq Properties May launched its offer on May 1……………………………………….Full Article: Source

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