Commenting on the results of the offering, Yasser Geissah, CEO, CAPM Investment, said:
“The result of the IPO has shaped up according to our expectations demonstrating investors appetite in the region for similar investment opportunities especially with the considerable development in the health insurance sector in the UAE. From our understanding of the UAE market and our long experience in the investment banking industry and IPO management, we expected the success of the Green Crescent IPO and the overwhelming interest from investors to GCIC shares. We would like to thank them for showing trust and faith in Green Crescent.”
Commenting on the IPO, Carl Sardegna, CEO, Green Crescent said:
“We are very pleased with the response to our IPO and look forward to beginning operations and generating the results to justify the confidence shown by the investors.”
The Company intends to refund excess money before 8th July 2008 and it plans to list Green Crescent on the Abu Dhabi Securities Exchange within a month from the date of announcing its incorporation. Upon listing, shares of Green Crescent can be traded among investors from UAE, GCC and foreigners providing that ownership of non-UAE investors do not exceed 25% of the Capital according to GCIC Articles of Association.
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