Dhiraagu is pleased to inform that the total number of shares subscribed during the recent Dhiraagu IPO held between 25th October - 4th December 2011 amounts to 4,711,810 shares resulting in total proceeds of Maldivian Rufiyaa 376, 944,800 (Three Hundred Seventy Six Million, Nine Hundred and Forty Four Thousand, Eight Hundred Rufiyaa).

Although this amounts to 41% of the shares offered, we believe this makes Dhiraagu IPO the biggest IPO in the history of the country in terms of total no. of shares subscribed and the value of the proceeds.

The share application forms are now being processed by MSD (Maldives Securities Depository) to open the MSD share accounts. We will make a public announcement when this process is completed and the shares are ready for trading.