In a groundbreaking IPO offering, Dubai-based DAE Capital’s DAE Aerospace (DTC) has achieved a record oversubscription rate of 130 times on the Dubai Financial Market (DFM). This level of oversubscription reflects an unprecedented demand of over Dh150 billion, which is equivalent to approximately $41 billion.
With the final price now set, DTC’s market capitalization upon listing is projected to reach approximately Dh4.6 billion, or approximately $1.26 billion. Despite this milestone, the Department of Finance, representing the Government of Dubai, will maintain the majority shareholding with 75.01 per cent of DTC’s share capital after the IPO is completed. This achievement underscores the strong confidence and support from investors in DAE Aerospace and its prospects in the market.
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