Sri Lanka
USA
Canada
India
UK
UAE
Emirates Integrated Telecommunications Company (du) has announced the sale of 342.08 million shares, representing 7.54% of its total issued capital, as part of a major secondary public offering. The shares, each with a nominal value of Dh1, are listed on the Dubai Financial Market (DFM) and are being offered by Mamoura Diversified Global Holding, which currently owns just over 10% of du.
According to the prospectus, shares will be priced between Dh9 and Dh9.90, raising between Dh3.08 billion and Dh3.39 billion. Following the offering, Mamoura’s stake could shrink to just 2.5%, while the Emirates Investment Authority (EIA) will remain du’s largest shareholder with a 50.1% holding.
The offering is structured in two tranches:
Retail investors will be offered 5% of the shares (17.1 million shares), with a minimum subscription of Dh5,000.
Institutional investors will take the remaining 95% (325 million shares), with a minimum subscription of Dh5 million.
The subscription window will run from September 8–12, with Emirates NBD as lead receiving bank and Abu Dhabi Commercial Bank, Emirates NBD Capital, and First Abu Dhabi as joint lead managers.
Du, the UAE’s second-largest telecom operator, reported a Dh921 million profit in H1 2025, up 15% year-on-year.
Retail Sector Transformation
While financial markets await du’s share sale, the UAE’s retail industry is undergoing a transformation. Traditionally dominated by luxury malls and mega sales, the sector is now embracing “shoppertainment” — a fusion of shopping, entertainment, and cultural experiences.
Industry leaders highlight that retail is no longer just about transactions but about tourism, storytelling, and emotional engagement. “Shopping is the invisible thread weaving through every visitor’s UAE experience,” said Shuja Jashanmal, CEO of Jashanmal Group.
Concepts like phygital retail — blending online and offline shopping — are reshaping malls into cultural hubs. Augmented reality, predictive inventory, and AI-powered experiences are being used to create interactive, immersive environments.
According to the Yardstick Marketing Retail Report, retail contributes 20% to Dubai’s GDP, underscoring its critical role in tourism and national growth. Dubai welcomed 9.88 million international visitors in H1 2025, with hotel occupancy at 83%, further fueling retail-tourism synergy.
As Ganesh Iyer of FLC Marketing Group put it: “Retail is no longer just commerce — it’s an experience, a cultural attraction, and a driver of identity.”
