DAMAC Launches USD$500mn London IPO


News: On November 14 2013 Dubai-based developer DAMAC Real Estate launched the book-building process for its initial public offer (IPO) of shares in London, the first IPO by a Dubai property firm since the emirate's real estate crash four years ago. Shareholders in DAMAC will offer Global Depositary Receipts (GDRs) for US$12.25-17.25 per GDR. The sale of up to 18.8% of the company will raise at least US$500mn and value it in the market by as much as US$3.74bn.

This article is tagged to:
Sector: Real Estate
Geography: United Arab Emirates