Dubai-based fuel distributor Tristar will price its initial public offering on the Dubai Financial Market at Dh2.20-Dh2.70 per share, inferring a market capitalisation of between Dh2.64 billion–Dh3.24bn ($719 million-$882m) for the business.
The company began offering shares to qualified investors on Sunday and said it would sell 20 per cent of its shares as a "base case", but could list up to 24 per cent. It expects to raise between Dh438m-Dh537m in primary proceeds through the sale of new shares, while shareholders will sell between Dh90m-Dh240m of existing shares through a secondary offering.
“I am delighted our share offer is now open, which provides investors the opportunity to share in Tristar’s long-term growth aspirations," the company's founder and chief executive Eugene Mayne said. "Our business has achieved considerable success over the last 23 years."
Tristar plans to list its shares on the Dubai Financial Market this month. The company is currently owned by Kuwait-based logistics group Agility, Gulf Investment Corporation and an investment vehicle owned by Mr Mayne, with stakes of 65.12 per cent, 19.61 per cent and 15.27 per cent, respectively.
The company has a fleet of more than 2,000 lorries and 35 maritime vehicles serving national and international oil companies. It also operates 69 fuel farms and more than 100 remote sites in 21 countries across three continents.
Its earnings before interest, tax, depreciation and amortisation for 2020 stood at $103.6m on revenue of $453.4m.
The company intends to use some of the proceeds to repay about Dh197m of loans and payables to related parties.
The Specs:
The Specs:
Engine: 2.9-litre, V6 twin-turbo
Transmission: 8-speed automatic
Power: 444bhp
Torque: 600Nm
Price: AED 356,580 incl VAT
On sale: now.
Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
CHATGPT%20ENTERPRISE%20FEATURES
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The five pillars of Islam
