Capital Markets

April 18, 2017

Instinctif Partners Middle East completes IPO advisory role for ENBD REIT

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Instinctif Partners Middle East has completed its delivery of strategic counsel and IPO communications advice to ENBD REIT (CEIC) Limited, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, which successfully completed its listing on Nasdaq Dubai on 23 March 2017.

The Instinctif Partners team provided Emirates NBD Asset Management, the REIT’s manager, with a full range of services including strategic communications advice, media relations, digital content strategy, branding and content development, in addition to providing full PR support on the day of the IPO.

Samantha Bartel, Managing Partner, Instinctif Partners Middle East, said:

“In the weeks and months leading up to the IPO, we worked closely with the ENBD REIT team to ensure seamless communications before, during and after the listing. I am very proud of the hard work our team demonstrated in working with ENBD REIT, the first IPO on a Dubai exchange since December 2014, and we look forward to accomplishing future milestones together.”

ENBD REIT offered 94,594,595 ordinary shares to regional investors at a price of US$ 1.11 per share. Gross proceeds of the offer amounted to approximately US$ 105 million, before the deduction of commissions and other fees payable by or on behalf of ENBD REIT in connection with the Offer. On the day of the IPO, ENBD REIT’s stock was Nasdaq Dubai’s highest gainer.

Anthony Taylor, Fund Manager, Real Estate, Emirates NBD Asset Management, commented:

“Thanks to the dedicated work of the Instinctif Partners team, the management team was able to focus 100% on the task at hand, safe in knowledge that our communications requirements were in capable hands. The process ran very smoothly, and we are pleased to continue our relationship with Instinctif Partners, who will provide ongoing investor relations and communications counsel to ENBD REIT.”

ENBD REIT’s investment properties were independently valued at approximately US$ 314 million as at 30 September 2016.

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