The Dubai Financial Market is up more than 20 per cent in value since the depths of July when ArabianMoney made a presentation in Vancouver tipping UAE equities, and today the first initial public offering for two years was announced.
Axiom, a division of the Dubai retailer Axiom Telecom which is 40 per cent owned by the Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, said it will sell up to a 35 per cent stake by the end of the year, the first IPO in Dubai since the global financial crisis.
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