Dubai: Al Ansari Financial Services will be the first Dubai IPO of 2023, offering 750 million shares for 10 per cent of the company's existing share capital. For retail investors, the subscriptions will run from March 16 to 23, while that for qualified investors, it would end on March 24.

Potential subscribers will obviously have a close look at the dividend promise - the company will adopt a semi-annual dividend distribution policy. Al Ansari is targeting a 'minimum dividend of Dh600 million' for 2023, with the first payment being made in October and the second in April 2024.

More to follow...