Search DubaiPRNetwork.com

Home >> Real Estate & Retail

UAQ Coop Announces 370, 000 Additional/Extended Share Offering

UAQ Coop Announces 370, 000 Additional/Extended Share Offering

Wednesday, September 15, 2021/ Editor -  

Share

Home >> Real Estate & Retail

The Share value is expected to reach more than AED 50 Million after its completion

 

Prepared By: Benoi Nair


Dubai, UAE:  Umm Al Quwain Coop, managed by Union Coop, the largest consumer cooperative in the UAE, announced the Additional/Extended share offering on 370,399 shares, intending to increase the volume of investment in retail trade, from September 15th to September 21st for Emiratis holding passports of the Emirate of Umm Al Quwain. Subscription will be made through 'AAFAQ Islamic Finance' at the headquarters of the Al Arabi Cultural Sports Club in Umm Al Quwain.

In detail, the Chairman of the Board of Directors of Umm Al Quwain Coop, His Excellency Nasser Al-Talai, said: the Additional/Extended share offering aims to raise the capital to operate the residential commercial center, which contains a hypermarket (Coop), shops and apartments with all services and recreational facilities, per the provisions of the Umm Al Quwain Cooperative Society’s bylaw and its articles of association, and the management and operation contract with Union Coop, indicating that Umm Al Quwain Cooperative was established to provide the best services to consumers at competitive prices.
He pointed out that the Additional/Extended share offering will increase the capital, which will contribute to maximizing benefits, creating investment opportunities, providing diverse products with international specifications under one roof, meeting the needs of community members, in addition to providing support to the social sector to achieve the vision of the wise leadership, pointing out that the total amount of the capital will reach more than AED 50 Million after completion.


In turn, the CEO of Union Coop, Mr. Khalid Humaid Bin Diban Al Falasi, affirmed that Union Coop possesses high capabilities and expertise in the local market especially in the field of retail, management and operation of cooperatives and commercial centers, as it has previous experiences in managing cooperatives that have turned out to be a great success and achieved the goals and vision set according to the timeframe, noting that the Additional/Extended share offering came according to a pre-planned strategy and plans to provide the finest and quality services at competitive prices to the residents of the Emirate of Umm Al Quwain and its neighboring areas.


He added that Emirati citizens can subscribe at the headquarters of the Al Arabi Cultural Sports Club in Umm Al Quwain during the aforementioned mentioned period, bearing in mind that the minimum subscription is 500 shares, the value of which is to be submitted through a certified bank check or by direct debit from the bank account of the eligible person. 


Previous in Real Estate & Retail

Next in Real Estate & Retail


Home >> Real Estate & Retail Section

Latest Press Release

SPACEE Set to Redefine UAE's $58bn Retail Segment, Marks its Debut with Particip ...

Land Rover Provides First Glimpse of the New Range Rover

The Waterfront Market's Murals and Art Competition Submission Deadline Extended

DLD: 5,762 Real Estate Sales Transactions worth AED 16.2 Billion in September 20 ...

Al Ain Film Festival Announces the Winners of the Abu Dhabi Festival Unproduced ...

The 2020 Edition of Happiest Workplaces in the Region Revealed

UAE National World Robot Olympiad Winners Announced

GEMS Students earn University Credits Thanks to Collaboration with Arizona State ...

Verloop.io Showcases Conversational AI Solutions for Customer Support at GITEX 2 ...

Dazzle This Diwali Season With Tanishq

‘YA WELI', The Latest Nikon and Neha Pandey Collaboration All About ‘Love'

DLD Receives 100% Paperless Stamp from Digital Dubai

Hamdan Bin Mohammed Heritage Center to highlight UAE's cultural traditions at Ex ...

The Swiss Pavilion Highlights Education, Innovation & Research during Space Week

Zoho Unveils New Cutting-edge Apps and Services in Zoho One, The Operating Syste ...

Union Coop Launches ‘Mirdif Park Way' Investment Destination

Japanese Astronaut Yamazaki Naoko Participates in Space Week at Expo 2020 Dubai

Emirates Integrated Telecommunications Company reports Q3 2021 Results

Dubai Culture Receives 100% Paperless Stamp and Honours Project Team

Michelin Star Chef Paul Pairet Joins Hands with SushiArt to introduce limited-ed ...