Massar Solutions to wait and see on Abu Dhabi IPO



Shareholders in Massar Solutions have postponed the initial public offering of the company after an insufficient number of applications was received for the 240 million shares on offer, worth Dh576 million.

“Some investors were unable to submit their applications within the offer period on account of the continued volatility in oil prices, which in turn had an impact on the regional and international capital markets,” read a statement from Massar, agreed with the Securities and Commodities Authority.

Two shareholders – Abu Dhabi National Energy Company (Taqa) and the financial firm Invest AD – own the share capital of Massar, and had intended to sell 20 per cent each to Emirati retail investors and institutions.

It would have been the first IPO on the Abu Dhabi Securities Exchange since 2011, and the first in the capital in the recent wave of UAE listings, which have come mainly on the Dubai Financial Market.

The IPO will be postponed “until such time as oil prices are more stable”, the statement said. Investors who took up the offer – understood to account for less than 50 per cent of the total offering – will have their cash returned.

Massar added: “A significant interest was expressed from a broad spectrum of sophisticated institutional investors and family offices, who remarked on the robustness of the company’s business model.”

fkane@thenational.ae

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No.6 Collaborations Project

Ed Sheeran (Atlantic)

TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

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Company%20profile
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Company%20Profile
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Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.

Company%20Profile
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COMPANY%20PROFILE
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
COMPANY%20PROFILE%20
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