Damac’s executive chairman to join region’s richest from share sale | The National:
"Hussain Sajwani, Damac Properties’ founder and executive chairman, stands to make a personal windfall of hundreds of millions of dollars from the luxury property developer’s London share offer this week.
The planned US$500 million offering would propel Mr Sajwani into the ranks of the region’s richest billionaires. The long-awaited debut of Damac shares, in the form of global depositary receipts (GDRs), will take place on Wednesday following a global roadshow by investment bank advisers.
GDRs are a form of quasi-equity occasionally used by emerging market companies in listings on western exchanges."
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