How will Burjeel Holdings use the proceeds of the IPO?

The Company intends to use the net proceeds from the issue of the New Shares for general corporate purposes.

In addition, the Company intends to use a portion of the proceeds from the sale of the New Shares and approximately AED 247.0 million of the proceeds from the sale of the Sale Shares (which amount will be remitted by the Lead Receiving Bank to the Company on the Listing Date in settlement of the Selling Shareholder Payable) to pay certain of the Group’s outstanding indebtedness.

Any remaining net proceeds from the sale of the Sale Shares by the Selling Shareholder after the settlement of the Selling Shareholder Payable will be for the sole benefit of the Selling Shareholder. The Offering will provide the Selling Shareholder with an opportunity for a partial realisation of its shareholding in the Company.