MIDEAST STOCKS-Dubai bull run continues after successful Emirates REIT listing | Reuters:
"* Emirates REIT adds 6 pct after Dubai's first IPO in five years
* Banks, property firms lift main Dubai index
* Emirates ENBD surges on Dubai World write-back hopes
* Saudi bourse up on food and banking sectors
* Egypt jumps but not clear if correction is over
By Olzhas Auyezov
DUBAI, April 8 (Reuters) - Dubai's main stock market posted its biggest gain in three weeks on Tuesday as real estate investment trust Emirates REIT listed on the smaller of the two markets, NASDAQ Dubai, following the emirate's first initial public offer in five years.
Shares in Emirates REIT closed at $1.44, up 5.9 percent from the IPO price, with 21.4 million shares changing hands out of a total of 128.68 million sold in the $175 million offer, which was 3.5 times oversubscribed.
"I think it was a very good start," said Sebastien Henin, head of asset management at The National Investor. "The company listed on NASDAQ Dubai and usually investors don't really like that.""
'via Blog this'
No comments:
Post a Comment