UAE property firm Eshraq plans to sell a 55 percent stake worth an estimated $224 million in an initial public offering in February and list on the Abu Dhabi stock exchange, a banker close to the deal said on Wednesday.
The Abu Dhabi-based banker, speaking on condition of anonymity, said several UAE banks are involved in the IPO which will offers 825 million shares. Eshraq has a total capital of 1.5 billion dirhams ($408.4 million), he told Reuters.
'After the IPO, the shares will be listed on ADX,' he said.
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