Wednesday 12 September 2012

Dubai's Daman puts IPO on hold due to lack of liquidity - Yahoo! News Maktoob

Daman Investments, a Dubai-based investment management company, has put on hold plans for an initial public offer (IPO) of its shares, citing liquidity concerns.
Daman sold a 22.7 percent stake via a private placement in June, valuing the firm at 440 million dirhams ($120 million). It said it eventually planned to offer shares to the public.
The company had said in 2009 it would need about three years to prepare for a public listing, and might conduct the IPO by the end of 2012.

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