UAE's Daman Investments is looking to sell shares to the public by 2012 to strengthen its financial position, it said on Tuesday, as it looks to tap opportunities in the world's largest oil exporting region.
Daman Investments, which is active in asset management, brokerage and venture capital, intends to float around 30 percent of its capital with the IPO and seeks a listing on either the Dubai or Abu Dhabi exchange.
The IPO's proceeds will be used to finance brokerage activities, to fund the company's commitments and to boost its warchest for possible acquisitions, Chief Executive Shebab Gargash told Reuters.
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