Subscriptions for the Gulf Navigation Holding’s initial public offering to list on the Dubai Financial Market will close on Monday, August 07, 2006. GCC nationals, companies, establishments and general firms under the Federal and Local Governments can subscribe to the offer. The nominal value per share is AED1.00 with an additional AED0.02 as offering costs. The offer consists of 910,000,000 ordinary shares representing 55% of the company’s total issued share capital.
Receiving banks for the subscription in the UAE include National Bank of Abu Dhabi, Emirates Bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates Financial Services, Finance House, First Gulf Bank, Mashreqbank, National Bank of Fujairah, Union National Bank and HSBC. In addition to the UAE, HSBC branches will receive subscribers in Qatar, Oman and Bahrain.
Gulf Navigation Holding, the region's rapidly growing oil and chemical carrier, operates through a fully-integrated organisation structure. It provides the full spectrum of services for maritime liquid cargo transportation, maritime commercial agencies, vessels technical management and vessels in-port agency services.
About Gulf Navigation Holding:
Gulf Navigation Holding is an ISO 9001:2000 certified Dubai-based company and one of the leaders of the shipping and marine services industry in the region. It is a United Arab Emirates holding entity with operations worldwide and 11 specialised subsidiaries. The company owns and charters VLCCs, Chemical and Product Tankers. It is also the sole agent for a large number of global marine manufacturers.
