Damac GDRs begin trading on the London Stock Exchange | The National

Damac GDRs begin trading on the London Stock Exchange | The National:

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The luxury property developer Damac begins trading on the London Stock Exchange (LSE) today in the largest listing by a UAE company in more than half a decade.

Advisers working on the offer said Damac’s global depositary receipts (GDR) would be priced at US$12.25 per unit – at the bottom of analysts’ valuation range.

At that price, Damac is valued at $2.65 billion, the biggest offering by a UAE firm since DP World sold 20 per cent of its equity for $4.96bn on the Nasdaq Dubai exchange in November, 2007."

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