VOL. XLV

No 45

11-November-2002

DUBAI

Aman Insurance IPO Oversubscribed

The initial public offering (IPO) of the Dubai Islamic Insurance and Reinsurance Company (Aman), a new Islamic insurance firm floated by Dubai Islamic Bank (DIB), has been oversubscribed by more than three times for a total of Dh120mn ($32.7mn). A 55% share in the company (3.3mn shares out of a total of 6mn) was offered to UAE nationals at the nominal share value of Dh10 ($2.7) per share. Subscription to the initial public...