UAE Company Marka To Launch IPO In Dubai, Plans DFM Listing » Gulf Business:
"Marka, a company created by prominent businessmen in the United Arab Emirates, is to launch next week the first initial public offer of shares on Dubai’s main stock market since 2009.
The 12-day offer of 275 million shares at Dhs1 (27 U.S. cents) each, representing 55 per cent of the company’s capital, has received final regulatory approval and will start on April 13, Marka said in a statement on Monday.
After the IPO, the company plans to list on the Dubai Financial Market (DFM). The rest of its capital was subscribed last month by 151 founders who include wealthy UAE businessmen, Marka said without naming the founders.
The company is still being incorporated, and while it says it will focus on the retail and food and beverage sectors in the UAE and the broader Gulf Arab region, it has not revealed details of its plans."
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