The UAE's first initial public offering (IPO) in more than two years will go forward after just meeting the capital requirements necessary to list, company officials said.
Insurance House raised Dh66 million (US$17.9m) in the two weeks since offering subscriptions but reached the threshold only hours before a 5pm deadline on Wednesday.
"We had doubts that it would close," said a spokesman for Insurance House. "We crossed the Dh66m coverage midday yesterday."
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