The UAE’s second-largest telecom operator, Emirates Integrated Telecommunications Company (du), has officially launched a secondary share sale of 342.084 million shares. Representing 7.55% of the company’s issued capital, this move provides UAE residents and institutional investors an opportunity to participate in one of the country’s fastest-growing digital service providers.
With du’s strong performance in 5G, cloud services, AI-driven analytics, cybersecurity, and fintech, investors are eager to understand how they can subscribe, what the price range is, and how allocations work.
Why Is du Selling Shares?
The shares are being sold by Mamoura Diversified Global Holding (formerly Mubadala Development Company), which currently owns 10.06% of du. By offering part of its stake, Mamoura aims to increase liquidity in the Dubai Financial Market (DFM) and attract wider participation from retail and institutional investors.
This move also supports the UAE’s goal of positioning itself as a regional financial hub, with more transparency, larger free floats, and stronger investor engagement.
Share Price Range & Subscription Details
- Price Range: AED 9.00 to AED 9.90 per share
- Total Shares Offered: 342,084,389 (7.55% of du’s capital)
- Offer Structure: Book-building process to determine final price
- Final Price Announcement: September 15, 2025
At the upper price band, the sale could generate AED 3.39 billion, highlighting strong demand for UAE telecom assets.
Allocation Breakdown: Who Can Invest?
- 5% Retail Allocation: Reserved for UAE residents applying through local brokers and banks.
- 95% Institutional Allocation: Domestic and international qualified investors can apply.
For UAE residents, this is a rare chance to subscribe to a blue-chip telecom stock with a limited retail quota.
Step-by-Step: How UAE Residents Can Subscribe
| Step | Action |
| 1. Open a DFM Trading Account | Register with a licensed UAE broker or bank offering access to DFM shares. |
| 2. Monitor Final Price Update | Wait for the confirmed price on September 15, 2025. |
| 3. Apply for Subscription | Submit application under the “Retail Tranche” of du’s offering. |
| 4. Make Payment | Transfer funds based on the applied shares. |
| 5. Allocation Notification | Broker informs you about allotted shares after book-building closes. |
| 6. Start Trading | Post-offering, shares can be traded freely on the DFM. |
Why Invest in du?
- Strong Financial Growth
- Q1 2025: AED 3.8B revenue (+7.4% YoY), AED 700M net profit (+19.8%).
- Q2 2025: AED 3.9B revenue, AED 726M net profit.
- FY 2023: AED 13.64B revenue, AED 1.67B net profit (+36.8%).
- Technology Leadership
du is rapidly expanding in 5G connectivity, IoT, fintech, cloud computing, and AI analytics—sectors with long-term growth potential. - Market Liquidity
A larger free float means better liquidity and visibility, making du shares more attractive to global funds and index trackers.
Risks to Consider
- Pricing Risk: Final issue price may settle near the upper end.
- High Demand: Limited retail allocation may reduce the actual shares allotted.
- No Capital Raise for du: Since proceeds go to the selling shareholder, du itself won’t receive new capital.
Regional Context
The du offering aligns with recent secondary share sales across the GCC, including Saudi Aramco and ADNOC’s follow-on offerings, which were heavily oversubscribed. This underlines strong investor appetite for high-quality regional companies.
Conclusion
The du share sale 2025 represents a significant opportunity for UAE residents to invest in a telecom leader with proven financial growth and ambitious digital expansion. With 5% reserved for retail investors, timely subscription and preparation are crucial.
For long-term investors seeking exposure to telecom, technology, and UAE’s digital transformation, du’s offering could be a strategic move worth considering.