Frequently Asked Questions for Orient UNB Takaful PJSC - IPO

Transcription

1 Frequently Asked Questions for Orient UNB Takaful PJSC - IPO About the IPO: 1. What is Orient UNB Takaful PJSC? It is a green filed company under the name of Orient UNB Takaful PJSC- under incorporation, the company is jointly promoted by Orient Insurance PJSC (DXB Based) & Union National Bank PJSC (AUH Based) in the field of Takaful Insurance. 2. What are the business plans for Orient UNB Takaful PJSC? To provide Islamic General Insurance products and service; To provide Islamic insurance products and services appropriate for all economy sectors and society segments; To establish Orient U.N.B. Takaful as the market leader in providing a range of various products and services; To promote awareness in the society of the benefits derived from the concept of Takaful insurance; To establish good working relationships with potential customers through meeting the decision makers and developing a successful joint plan; To be the lead company in UAE in terms of service quality, customer service and professionalism in Takaful sector. 3. What are the actual activities of Orient UNB Takaful PJSC? It will launch a wide range of Takaful products targeting both individuals and companies. 4. What will be the strategy of Orient UNB Takaful PJSC, in brief? The purpose of establishing Orient UNB Takaful Company is to offer its clients in UAE Sharia compliant insurance products and services. The company is fully aware that its critical contribution to the development and growth of the UAE economy could achieved by offering Islamic insurance products and services, and offering world-class solutions to protect the economic and human interests. 5. Is the company Sharia compliant? Yes

2 6. What is the company s capital? Founders Nationality No. Of Shares % Union National Bank PJSC UAE 700, Orient Insurance PJSC UAE 697, Omar Elamin Sudan 1, Marwan Shehadeh USA 1, Riad Al Khder Syria 1, IPO UAE only 600, Who is on the Founders Committee? (if relevant) Founders Nationality Title Salah Mabrouk Egypt Chairman Mono Mathew India Member Ahmed Kolthoum UAE Member Eslam Nafie Egypt Member 8. When will Orient UNB Takaful PJSC be listed? 1 month from closing the IPO 9. What is the price of the stock when listing? AED 100/- 10. How many shares and what percentage of total share capital will be offered? It will offer 600,000 Ordinary Shares to the public offer which is 30% of the capital. 11. At what price will the shares be offered? Par Value AED 100/- + AED 1/- Issuing Fees. 12. When will the offer open & close? From 29/11/2016 till 15/12/ What is the expected listing date? 1 month from closing the IPO 14. Do you have a detailed timetable of the IPO? Check the fact sheet

3 15. What are the eligibilities for subscription? - For UAE Nationalities Only who owns Kholaset Al Qaed only (Retail & Institution); - Qualified Investors Only. 16. What is the minimum subscription amount? Tranche I: 50,000 Shares (AED 5 Million) Tranche II: Multiple of 1,000 shares 17. Is there a maximum amount for the IPO subscription? Tranche I (Qualified Investor): No Maximum Tranche II (Retail): 49,000 shares 18. Do you have any allotment policy? Allotment will be on Pro-Rata basis 19. From where can I obtain a replacement for the allotment letter? Union National Bank Head Office 20. What will PI do with the funds raised through the IPO? To establish Orient U.N.B. Takaful as the market leader in providing a range of various products and services; To provide Islamic General Insurance products and service; To provide Islamic insurance products and services appropriate for all economy sectors and society segments; To promote awareness in the society of the benefits derived from the concept of Takaful insurance; To establish good working relationships with potential customers through meeting the decision makers and developing a successful joint plan; To be the lead company in UAE in terms of service quality, customer service and professionalism in Takaful sector. 21. Will the Company distribute dividends? TBA 22. If I purchase shares will I have the same voting rights? Yes

4 23. Are there any ownership restrictions? Yes, As per the Commercial Company law No. 2 of Are there any associated risk factors? Yes, mention in the prospectus which was published in the newspaper. 25. Does the company have a website? Not yet, but it will establish one. How to Subscribe: 1. Where should I make the payment? At Union National Bank, the nominated branches are mentioned in the prospectus & fact sheet (25 Branches) 2. Is online subscription possible? No 3. Do I need to have an Investor Number (NIN)? Yes, Dubai Financial Market (DFM) Investor Number 4. How can I apply for an DFM Investor Number (NIN)? Through DFM or Authorized Securities Brokerage Company 5. What do I need to take with me to subscribe to the IPO in person at the Bank? Tranche II (Retail): Original & Copy of Emirates ID/Passport; Investor Number with DFM; Kholaset Al Kaed; Manager Cheque from authorized UAE Bank or Transfer from UNB account; Duly Completed Application Form. Tranche I (Qualified Investor): Investor Number with DFM; Original & Copy of a valid trade license;

5 Manager Cheque from authorized UAE Bank or Transfer from UNB account; Duly completed Application Form; Authorized signatory Proof with original & copy of valid Emirates ID / Passport. 6. What is the procedure of obtaining a manager s Cheque from the bank to subscribe to the IPO? Check with your bank cause it s different procedures from bank to another. 9. Do I need the ivestor card to subscribe in person at Banks? No