Dubai, 30th September, WAM – The Yalla Group Ltd. today announced its listing on the New York Stock Exchange for the first time in the Middle East and North Africa with a value of 18,600,000 of the shares deposited in the American market, with an individual value of $ 7.50 per share of the common stock of the first-class company, at a price Advertised to the public: 139,500,000 US dollars / one hundred thirty-nine million US dollars / total public offering of the company, assuming that the IPO agents did not exercise their right to buy more shares deposited in the US market.
It is expected to start trading these shares on the New York Stock Exchange today under the name / YALA /, while the subscription is likely to stop on the second of October in accordance with the customary closing provisions.
In addition to being the only Arab company listed on the New York Stock Exchange as / YALA /, and referred to by the symbol “Yalla”, the company and its shareholders have given an option to the IPO, which can be applied within thirty days of the final prospectus of subscription. It provides that the IPO is granted the right to purchase additional value from the shares deposited in The US market is valued at 2,790,000 to cover the additional allocations of stocks.
The initial public offering is managed by Morgan Stanley & Co. LLC / and / Haitong International Securities Company Limited /.
During the announcement of the initial public offering, Saifi Ismail, Group Chairman, said that the company is proud to be the first company to be based in the United Arab Emirates and to be listed on the American Stock Exchange, pointing out that it is a first step on the path of growth achieved by the company at various levels, pointing out that choosing Dubai As the main center of the company, it supports plans to expand digital investment due to its many advantages at all levels, stressing that this choice came after extensive and careful studies by all partners of the reality of the Arab market for digital entertainment.
The initial public offering of Burj Khalifa was announced, in a large ceremony held by the company on this occasion and in the presence of a large crowd of leaders, officials and the media. It provides content that is appropriate and harmonious with these authentic Arab constructions. ”
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