Gulf Navigation Holding’s IPO Committee is convening in Dubai to begin their ongoing monitoring of the IPO process. The Committee consists of Abdullah Abdulrahman Al Shuraim, Chairman, Ghazi Al Ibrahim, Managing Director and CEO and Hazza B. Qahtani, Founding Member and Board Member.
Gulf Navigation Holding aims to list on the Dubai Financial Market and its IPO will be open for subscription from Monday July 24, till Monday August 07, 2006 for GCC nationals, companies, establishments and general firms under the Federal and Local Governments. 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.
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.
