OVERVIEW

Multiply Group is an Abu Dhabi-based tech-focused holding company with global presence across five industries, including automotive, wellness, media, communications, and utilities. Our diversified portfolio strikes a balance between steady companies that generate recurring income and high-growth businesses.

In 2021, we adopted a bold investment strategy, executing six investment deals in the UAE and abroad. We are well-capitalized and have a pipeline of global acquisitions lined up, with a high probability of above-average growth in industries we understand.

Our obsession with growth is at the roots of our group’s expansion. We aim to constantly empower our subsidiaries with capital, technology and opportunities available within our expansive network for them to acquire or create innovative solutions, gain operational excellence and become leaders in their industries.

Fueling our expansion plans, we are listing on the Abu Dhabi Securities Exchange, floating up to 25% of shares at a valuation estimated to be around AED 9.6 billion ($2.6 billion).

Shareholders include International Holding Company (IHC), one of the most valuable companies in the UAE, with a market capitalization of AED 275.4 billion ($75 billion) and an exceptional track record of taking its best-performing subsidiaries public, among other strategic shareholders.

OUR INDUSTRIES

The Group’s existing acquisitions are spread across five diverse industries that are positioned at different stages of growth. The planned capital allocation across these industries aims to maximize shareholder returns under varying external market conditions and business cycle stages.

MEDIA & COMMUNICATIONS

Current subsidiaries

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Investment Rationale

After 16 years in advertising/communication, we have created the biggest media agency. The Company aims to have within its portfolio one of the region’s largest digital omnichannel media groups. The Group has identified the latest innovations in marketing, advertising and media globally, disrupting the local landscape and empowering brands with data-driven and hyper-targeted advertising campaigns that optimize ROI.
Investments of interest include:

  • Digital advertising
  • Data mining and management systems
  • Creative content automation
  • AR/VR tools
  • Platform (PaaS) and software (SaaS) as a service
  • Mass personalization of digital experiences
  • Consumer analytics
  • Media feedback tools

Trends highlighting the industry potential:

  • According to McKinsey, consumers vaulted five years forward in the adoption of digital in just two months. This shift is expected to be permanent. Data ownership will be a key priority across the communications value chain.
  • The world is shifting to an Internet of Behavior and investment in this area has grown by around 146% over the past 5 years. Companies that manage to build on the new wave of data and use it to predict behavior and create personalized content are expected to have a massive edge going forward.
  • According to a Deloitte survey, 62% of Generation Z and 72% of Millennial users on social media would rather see ads personalized to their likes and activity than generic ones.
  • Gartner predicts that by the end of 2025, over half of the world’s population will be subject to at least one IoB (Internet of Behavior) program.

Projected growth rates across key sub-sectors:

  • Virtual reality (VR) is the fastest-growing entertainment and media segment. Its revenues surged by 31.7% in 2020 to $1.8 billion. It is projected to grow at 30% CAGR over the next five years to reach $6.9 billion business in 2025 (PwC).
  • The global Digital-Out-Of-Home (DOOH) market was valued at $20.16 billion in 2019. It is expected to reach $41.35 billion by 2027 at a CAGR 12.1% (Research & Markets).
  • The global MarTech industry is expected to witness a CAGR of around 44% between 2019 and 2025, to reach $335 billion revenue (QnQ Market Research Insights).

MULTIPLY WELLNESS

Current subsidiaries

Investment Rationale

COVID-19 has accelerated the adoption of wellness and related technologies by elevating the importance of preventative health care. The Group aims to capitalize on these trends and invest across six dimensions that holistically make up the wellness industry – better health, better fitness, better nutrition, better appearance, better sleep and better mindfulness.

Trends highlighting the industry potential:

  • A rise in both consumer interest and purchasing power presents tremendous opportunities for companies.
  • According to a global McKinsey survey, 79% of the respondents believe that wellness is important, and 42% consider it a top priority.
  • Clean beauty will become the new default in many markets, considering an overarching consumer shift towards safety and biocompatibility (Euro Monitor).

Projected growth rates across key sub-sectors:

  • As of 2021, the Global wellness market is worth $1.5 trillion and witnessing an annual growth of up to 10% (McKinsey).
  • The global market for preventive healthcare (technologies and services) is predicted to reach $287 billion by 2027, expanding at a CAGR of 9.7% (ihealthcareanalyst).
  • The global telemedicine market generated $40.20 billion in 2020, and is projected to reach $431.82 billion by 2030, registering a CAGR of 25.9% from 2021 to 2030 (Allied Market Research).
  • With an expected CAGR of 25% from 2019 to 2025, the digital health market is expected to reach nearly 660 billion dollars by 2025 (Statista).
  • The global cannabidiol market size surpassed $7.1 billion in 2020 and is estimated to grow at over 35% CAGR between 2021 and 2027 (Global Market Insights).

MULTIPLY UTILITIES

Current subsidiaries

Investment Rationale

As countries worldwide face growing demand for comfort cooling, it is district cooling that has a significant role to play in reducing the overall energy consumption. In 2019, PWC estimated that using district cooling for future additional cooling demand in developing countries could lead to over US$1 trillion in energy savings worldwide through 2035.

Trends highlighting the industry potential:

  • Taking into account the whole supply chain, a district cooling system can reach up to 10 times higher efficiencies than traditional electricity-driven chillers.
  • The district cooling demand is expected to increase amid the UAE’s plans to scale up infrastructure investment and industrial operations on account of the growing applicability of cooling systems in oil and gas refineries as well as production and manufacturing plants.
  • The increasing focus on green energy and the development of smart cities and smart grid infrastructures will propel the demand for advanced district cooling systems.
  • Investments in electricity supply and clean energies have surpassed investments in oil and gas, and that gap is expected to continue widening in the coming years. How companies balance supply and demand with the global mandate to reduce carbon emissions and the growing demand for renewable energy will be a key future differentiator.

Projected growth rates across key sub-sectors:

  • The global district cooling market size is expected to reach $47.64 billion by 2028, exhibiting a CAGR of 8.7% between 2021 and 2028 (Fortune Business Insights).
  • Across the Middle East, district cooling technology accounts for between 15% and 25% of the world’s installed cooling capacity (Norton Rose Fulbright).
  • The smart energy market is poised to grow by $ 591.26 bn during 2021-2025 progressing at a CAGR of 23% (Research & Markets).

CAPITAL

Current subsidiaries

Investment Rationale

While we nurture our acquisitions in the aforementioned industries for long-term maximization of shareholder value, our ventures allocation offers us the flexibility to grab low-lying fruit and benefit from any adverse market movement.

This allocation has assumed higher importance since the pandemic. Fortunes have swung across different industries due to the pandemic-induced changes of distancing and digitization. Moreover, trillion of dollars’ worth of liquidity have flooded the markets, creating frothy valuations, a potential for healthy corrections and, as a result, opportunities to invest. Our investment criteria are straight-forward:

  • Companies that are growth champions in their respective industries, backed by the 4th Industrial Revolution, with a pre-defined exit timeline and a smaller role in operations and strategy
  • Companies that are available at a significant discount with respect to their intrinsic value, typically low multiples due to short-term external factors; this may require long-term investment horizon and an active approach

The following industries are currently on our radar:

  1. Biggest beneficiaries of the post COVID-19 boom:
    • Software industry registered a net income of $81.3 billion and capital returns of 32.07% in 2021.
    • Semiconductor industry gained $81.5 billion in net income and a 19.36% return on capital investment.
    • Online retail sales skyrocketed since last year, contributing to 11.2% capital returns and a net income of $45.7 billion.
  1. In addition, we are focused on technologies that are revolutionizing other industries and riding the industry 4.0 wave. We have interest in the following potentially high-growth areas:
    • Fintech has transformed financial services, enabling greater accessibility, faster transaction speeds, higher security and cost reductions for both businesses and consumers. The global fintech market is expected to reach $305 billion by 2025, growing at a CAGR of 21% (Research & Markets).
    • Cybersecurity solutions adoption is expected to grow significantly as internet users will hit 6 billion by 2022, before reaching 7.5 billion by 2030 according to Cybersecurity Ventures.  The global cybersecurity market is expected to reach $400 billion by 2027, growing at a CAGR of over 10% (Global Market Insights Inc.).
    • Green energy is revolutionizing the global economy amid tech-induced adoption, favorable policies and trillions worth of investment plans globally. The regional economies are also pledging net-zero targets with significant investment plans to scale up green industries. Notably, there are opportunities across e-mobility, smart grid, batteries, etc. The global electric mobility market size is expected to reach $478.9 billion by 2025, rising at a market growth of 24.7% CAGR (KBV Research).

Board of Directors

Andre Sayegh

Chairman of the Board

André Sayegh is a seasoned C-suite executive with over three decades of experience in banking and financial services.

Prior to 2021, Sayegh served as Group Chief Executive Officer at First Abu Dhabi Bank (FAB) and is currently a member of the board. He had played a pivotal role in the merger of First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) to form FAB. His 20 years at FAB and its predecessor bank, FGB, were marked with distinction, as he assumed several senior executive positions, including Chief Executive Officer of FGB from 2006 to 2017.

Sayegh’s previous experience includes senior positions with several leading international financial institutions, including Citibank.

He holds a BBA in Finance and an MBA in Corporate Finance and Banking from the American University of Beirut. He also completed a project at Columbia University majoring in the evolution of financial institutions.

H.E. Hamad Khalfan Ali Matar Al-Shamsi

Board Member

H.E. Hamad Khalfan Ali Matar Al-Shamsi is the former non-executive Vice-Chairman of International Holding Company, PJSC. He is also a general manager at The Private Affairs Department of HH Sheikha Fatima Bint Mubarak and holds board directorships with Trojan General Contracting LLC, Zee Stores, Ishraq Properties Co., Al Yasat Catering & Restaurant Supplies LLC, Pal Computers LLC, Al Jaraf Travel & Tourism LLC, Hi-Tech Concrete Products LLC, Tafawuq Facilities Management LLC, Pal Group for Companies LLC, Al Sdeirah Real Estate Investment LLC, Royal Architect Project Management LLC, Fabulous Abu Dhabi Hotel Management LLC, Nshmi Development, Real Estate Investment & Services Co. LLC – REISCO.

H.E. Al-Shamsi holds a technical diploma from the armed forces, Abu Dhabi, 1996.

H.E. Mansoor Al Mansoori

Board Member

H.E. Mansoor Al Mansoori has had a diverse range of professional experiences in senior leadership positions across sectors including telecommunications, energy and government with a proven track record of setting up strategies, building institutional structures and capabilities and performance-based management systems.

Prior to joining G42, H.E. Al Mansoori served as Director General of the UAE National Media Council and was responsible for transforming the Council’s offerings across regulatory services, media policies, UAE’s national media wire services and strategic communications. He contributed to building the UAE’s brand and reputation management, locally, regionally and internationally and introduced policies and frameworks to further the country’s media and digital communication capabilities and foster innovation and development for the industry.

At G42, H.E. Al Mansoori is responsible for group and operating business units on strategic partnerships, innovation, capacity building, business efficiencies and transformation, revenue optimization, brand development, organizational culture and identifying and mentoring talent to develop future leaders of G42.

H.E. Al Mansoori is a prominent leader in the UAE and has held several board positions in leading institutions including Abu Dhabi Tourism and Culture Authority and Emirates Palace Company. He is currently the Chairman of Injazat and Bayanat and serves as a board member of Etisalat and AIQ.

A voracious reader and public speaker on digital transformation and the management of change, H.E. Al Mansoori was recently selected as Counsellor, alongside Canadian Prime Minister Justin Trudeau and Duchess of Sussex, at the 2019 Young World Summit in London where he delivered a keynote speech on “The New Age of Conversation.”

H.E. Al Mansoori holds a master’s degree in Strategic Security Studies and National Resources Management from the National Defense College (UAE). A University of Toledo (Ohio, USA) graduate in Computer Science, he holds several specialized certificates including a Leadership Certificate from London Business School (UK), Innovation Strategy Leadership from Massachusetts Institute of Technology (USA) and International Institute for Management Development (Switzerland).

Rick Gerson

Board Member

Rick Gerson is the co-founder, Chairman and Chief Investment Officer of Falcon Edge, a global investment management company. He is also a co-founder and board member of Abu Dhabi Catalyst Partners and a co-founder of Alpha Wave Incubation, an early-stage venture partnership.

Falcon manages a variety of investment partnerships globally including Moraine, Falcon Edge Global, Abu Dhabi Catalyst Partners, Alpha Wave Incubation and Alpha Wave Ventures. Falcon has offices in New York, Miami, London, Abu Dhabi, Tel Aviv and Bangalore.

Prior to Falcon, Gerson was a founding member and Managing Director of Blue Ridge Capital for 15 years, a global investment firm started in 1996.

Gerson is a member of the Cleveland Clinic International Leadership Board, a member of the Panthera Conservation Council and a board member of 92nd Street Y (a leading cultural institution and community center in New York). He is also a member of the Belfer Center’s International Council at the John F. Kennedy School of Government at
Harvard University and was a founding member of the Board of Trustees of PAVE (a charter school in Brooklyn).

He graduated from the University of Virginia, McIntire School of Commerce with a B.S. in Commerce with a concentration in Finance. He resides in Miami, Florida.

Samia Bouazza

Board Member

Samia Bouazza is the CEO of the Company, an Abu Dhabi-based holding company with global presence across five industries. She leads the strategic development of the Company, growing organically and inorganically a diversified portfolio of high-return businesses. Her commitments towards her shareholders include driving profitability, supporting innovation, leading acquisitions and ensuring the overall sustainable growth of the Group and its subsidiaries.

Bouazza’s key focus is on balancing investments in digital solutions and disruptive platforms with sustainable assets in long term high-growth industries. She oversaw the Group’s string of stake acquisitions such as Emirates Driving Company, Viola Communications, PAL Cooling Holding, Yieldmo and Firefly.

Championing the importance of wellness (mental and physical health), a personal and corporate value, Bouazza recently launched the Group’s health-tech start-up HealthierU, an online wellness and prevention platform.

Bouazza’s leadership instils in her team a deep loyalty to a culture of trust building, intellectual growth, and data-driven, tech-based solutions. At the age of 22, she founded Multiply Marketing Consultancy LLC, a local boutique agency which she transformed into an award-winning global firm. She later closed an acquisition and merger deal with Viola
Communications, after growing the Company by 400x in the 10 years prior.

Bouazza is a well-known marketing and communications speaker who has also authored and co-authored many books emphasizing the value of learning and the power of the intellect in driving personal growth. She currently serves as a board member to several companies in Switzerland, New York and Abu Dhabi.

She holds a BA in Political Science and Public Administration from the American University of Beirut and has completed executive education certificates in Strategic Intelligence and Digital Disruption from Harvard Business School and the University of Cambridge respectively.

Executive Team

Samia Bouazza

CEO

Samia Bouazza is the CEO of the Company, an Abu Dhabi-based holding company with global presence across five industries. She leads the strategic development of the Company, growing organically and inorganically a diversified portfolio of high-return businesses. Her commitments towards her shareholders include driving profitability, supporting innovation, leading acquisitions and ensuring the overall sustainable growth of the Group and its subsidiaries.

Bouazza’s key focus is on balancing investments in digital solutions and disruptive platforms with sustainable assets in long term high-growth industries. She oversaw the Group’s string of stake acquisitions such as Emirates Driving Company, Viola Communications, PAL Cooling Holding, Yieldmo and Firefly.

Championing the importance of wellness (mental and physical health), a personal and corporate value, Bouazza recently launched the Group’s health-tech start-up HealthierU, an online wellness and prevention platform.

Bouazza’s leadership instils in her team a deep loyalty to a culture of trust building, intellectual growth, and data-driven, tech-based solutions. At the age of 22, she founded Multiply Marketing Consultancy LLC, a local boutique agency which she transformed into an award-winning global firm. She later closed an acquisition and merger deal with Viola
Communications, after growing the Company by 400x in the 10 years prior.

Bouazza is a well-known marketing and communications speaker who has also authored and co-authored many books emphasizing the value of learning and the power of the intellect in driving personal growth. She currently serves as a board member to several companies in Switzerland, New York and Abu Dhabi.

She holds a BA in Political Science and Public Administration from the American University of Beirut and has completed executive education certificates in Strategic Intelligence and Digital Disruption from Harvard Business School and the University of Cambridge respectively.

Naveed Khan

Finance Manager

Naveed Khan serves as the finance manager at Multiply Group. With 12 years solid experience in accounting, corporate finance and auditing, Naveed plays a strategic role in the group’s organic growth, managing the group’s consolidation process, providing financial forecasting and budgeting and monitoring financial activities. Naveed holds a Chartered Accountant qualification from Institute of Chartered Accountants of Pakistan and has worked with Big4 audit firms.

OUR STRATEGIC APPROACH

Organic Growth

We support our portfolio subsidiaries to grow and evolve to their full market potential by empowering them with capital, technology and opportunities available within our expansive network for them to acquire or create innovative solutions, gain operational excellence and become leaders in future- proofing their industries.

  • To identify areas for operational improvements, the businesses are segregated into a series of value generating activities. Each subsidiary is tested for its potential for regional expansion and tech adoption.
  • A 100-day plan for each acquisition is developed for the post-investment integration, institutionalization of culture and governance and finalizing the growth plans.

We are expecting to witness an average growth rate of 12-17% across our portfolio. Post-acquisition discussions are ongoing with some of our subsidiaries to enhance scale and productivity. This offers us an upside potential going forward.

Inorganic Growth

Our existing acquisitions are spread across different geographies and companies that operate in diverse industries and are positioned at different stages of growth. While our risk appetite will be driven by shareholder targets, we aim to achieve optimal allocation of capital which maximizes shareholder returns under varying external market conditions and business cycle stages.

According to multiple global studies on our subsidiary industries, an approximate average CAGR of around 10% is expected by 2025. However, we expect a strong deviation from this average with respect to geographic and technology-driven factors. We target disruptive companies that have the potential to hit higher-than-average industry growth rates under any market condition.

In addition, under our capital investments vertical, we are looking for rapid growth opportunities, mainly revolving around industry 4.0 (for example: fintech, cybersecurity, electric mobility, CBD, etc.). These industries are projected to grow by over 20% over the next 5 years.

Our Approach to Investing

  • We leverage our solid research base, deep market insights and a network of global experts and partners to identify areas where we see the potential for healthy growth and long-term viability.
  • We do not advocate a spray and pray approach. Our investments are largely focused on five (5) broad themes/industries. They offer strong innovation potential, healthy margins, long term durability and favorable policy directions. With these industries, we have identified areas that are being disrupted with technology, opening up potential opportunities.
  • We are diversified. Our investments are focused on a balance between income-generating businesses that offer earning predictability (EDC dividends), and high-growth tech-driven companies (potential unicorns).
  • We are backed by one of the biggest and fastest growing conglomerates in the region. IHC allows us significant financial leverage and deal-making facilitation to pursue a bold investment mandate and chase rapid growth. This is very important considering global markets are brimming with liquidity.
  • Over the years, IHC has built several success stories, empowering companies to achieve rapid expansion and go public (6 companies over the past 12 months with a consolidated market cap of ~AED 561 billion). The market value of these 6 companies has increased substantially since their listing.
  • We are well-capitalized and ready to deploy capital. With a pipeline of global acquisitions, we are geared to benefiting from the post-COVID-19 disruptions and growth. As our risk appetite will be driven by shareholder targets, we aim to achieve optimal allocation of capital which maximizes shareholder returns.
  • We have agreed on a global investment mandate, growing our existing footprints in the US and EU. In addition, with Abu Dhabi being one of the strongest economies in the world with future-centric policies, we will continue to seek high-return local investments.
  • Our purpose is to empower. This is an attribute that not only innately motivates everyone at the Company but also serves as a guidepost for decision-making – including the opportunities we decide to pursue and not pursue. We actively seek to invest in companies that empower our stakeholders and the communities we operate in to optimize their full potential.

LISTING DOCUMENTS

LISTING TIMELINE

Milestone Date
Subscription Commencement Date (The Subscription Period shall continue for five days, including Saturdays, for the purposes of accepting Eligible Investors’ Subscription Applications) 21 November 2021
Subscription Closing Date 25 November 2021
Allocation of Offer Shares 28 November 2021
SMS confirmation to all Eligible Investors, commencement of refunds of surplus investment to the Eligible Investors and commencement of dispatch of registered mail relating to the allotment of shares 5 December 2021
Expected date of listing of Shares on ADX 5 December 2021

FREQUENTLY ASKED QUESTIONS

Where is Multiply Group planning to list?
The shares will be listed on the Abu Dhabi Securities Exchange (ADX).

Who is eligible to subscribe to the offering?
Subscription is open to both institutional and retail investors.

What percentage of Multiply Group’s shares is intended to be floated?
Multiply Group intends to list 25% share.

How are the proceeds intended to be used?
Funds generated through the offering will be used to invest across the five main verticals – utilities,
wellness, digital media and communications, and other capital investments across high-growth
disruptive businesses.

With a strong mandate to invest in high-growth companies, Multiply Group is riding the ongoing
economic rebound with six acquisitions so far in 2021. The Group has identified more opportunities to
drive forward its acquisitions and add more value to the subsidiaries through tech infusion and other
synergies. This is where the new capital will be deployed.

Why ADX?
ADX has been one of the best performing markets globally over the past year, and the recent ADX
listings have been very successful. This momentum is supported by Abu Dhabi’s economic resilience and
measures like the ADX One strategy that are enhancing its position as the go-to market for local and
external investors.

How long will it take to process my refund, in case I don’t receive full allocation?
The receiving bank will refund the amounts paid by the Eligible Investors in excess of what has been
allocated to the Eligible Investors within (5) five working days of closing the subscription.

Share Subscription Process

The subscription application must be submitted to the Lead Receiving Bank, First Abu Dhabi Bank (FAB), together with the NIN with ADX and the Eligible Investor’s bank account number, in addition to payment in full for the amount it wishes to use to subscribe for the Offer Shares, which is to be paid in one of the following ways:

  • Certified bank cheque (Manager’s Cheque) drawn on a bank licensed and operating in the UAE, in favor of “Multiply Group PJSC – Subscription”
  • Debiting an Eligible Investor’s account with the Lead Receiving Bank; or
  • Electronic subscriptions (please refer to the section on electronic subscription below).

Details of the Eligible Investor’s bank account must be completed in the Subscription Application even if the application amount will be paid by Manager’s Cheque.

The subscription amount may not be paid or accepted by the Lead Receiving Bank using any of the following methods:

  • In cash;
  • Cheques (not certified); or
  • Any other mode of payment other than mentioned above.

 

Participating Branches of the Lead Receiving Bank

S.No

Branch name

Branch Location-Area

Customer Timing

Subscription Timings

Branch Address

1

Business Park, Abu Dhabi

Abu Dhabi

08: am to 02:00 pm (Sat- Wed);

8 am to 1 pm – Sat – Thurs.

Khalifa Park Al Qurm, PO BOX:6316, Abu Dhabi

08:00 am to 01:00 pm (Thu)

2

FAB One Tower, Abu Dhabi

Abu Dhabi

08: am to 03:00 pm (Sat- Thur);

8 am to 1 pm – Sat – Thurs.

Intersection of Shaikh Khalifa street ,PO BOX:2993, Abu dhabi

 

E-Subscription

Access https://www.bankfab.com/en-ae/cib/iposubscription. Please refer to the “How to subscribe page” and follow the instructions and submit the application.

  1. Please ensure the following for submitting E-Subscription:
    a) Ensure that you have registered your mobile number with ADX against your NIN with ADX for receiving OTP for verification.
    b) Ensure to transfer the subscription amount through following:

i) Online transfer via UAE FTS Payment/ FAB online/mobile banking – Steps (INSIDE UAE)

      • Please use “Payment Purpose Code” as “Subscription” or Others and include NIN number.
      • Eligible Investor to remit funds, first, in full without deduction of any foreign bank charges.
      • Please mention “NIN Number, Broker Name and mobile Number under “Remittance Instructions” field or in “Remarks”

ii) SWIFT Payment Steps (OUTSIDE UAE)

      • Select Payment message MT103
      • Capture in Field 70 relevant “NIN Number, Broker Name, mobile number, amount of subscription applied for”

iii) Details for subscription funds transfer:

BANK NAME: First Abu Dhabi Bank PJSC
IBAN: AE050354031000000001315
Beneficiary Account Name: Multiply Group PJSC – Subscription
Currency: AED
Account Number: 4031000000001315
SWIFT Code: NBADAEAASSD

 iv) Upon completion of transferring the subscription amount, you must keep a copy of the payment receipt / payment confirmation to upload along with the Subscription Application

 

Documents Required

For individuals who are UAE or GCC nationals or nationals of any other country:

  • The original and a copy of a valid passport or Emirate’s identity card; and
  • In case the signatory is different from the Eligible Investor:
    • the duly notarized power of attorney held by that signatory or a certified copy by UAE-regulated persons/bodies, such as a notary public, or as otherwise duly regulated in the country.
    • the original passport/Emirates ID of the signatory for verification of signature and a copy of the original passport/Emirates ID; and
    • a copy of the passport/Emirates ID of the Eligible Investor for verification of signature; or
  • In case the signatory is a guardian of a minor, the following will be submitted:
    • Original and copy of the guardian’s passport/Emirates ID for verification of signature;
    • Original and copy of the minor’s passport; and
    • If the guardian is appointed by the court, original and copy of the guardianship deed attested by the court and other competent authorities (e.g. notary public).

For corporate bodies including banks, financial institutions, investment funds and other companies and establishments:

UAE registered corporate bodies:

    • The original and a copy of a trade license or commercial registration for verification or a certified copy by one of the following UAE-regulated persons/bodies; a notary public or as otherwise duly regulated in the country;
    • The original and a copy of the document that authorizes the signatory to sign on behalf of the Eligible Investor and to represent the Eligible Investor, to submit the application, and to accept the terms and conditions stipulated in the Prospectus and in the subscription form; and
    • The original and a copy of the passport/Emirates ID of the signatory.

Foreign corporate bodies: the documents will differ according to the nature of the corporate body and its domicile. Accordingly, please consult with the Lead Receiving Bank and the Placement Agent to obtain the list of required documents.

Please read the Prospectus for detailed terms and conditions on the subscription process.