Emaar Taps Stock Boom in Dubai’s Biggest IPO in Seven Years - Bloomberg:
"Emaar Properties PJSC (EMAAR), Dubai’s only listed developer to survive the property crash without an annual loss, raised $1.6 billion by selling shares in its mall unit, the emirate’s biggest initial public offering since 2007.
Emaar Malls Group shares were priced at the top of the range, with individual and institutional investors vying for stock even at its most expensive, the company said today in an e-mailed statement. There were more than 470 orders from institutions.
“There’s definite interest in Dubai’s retail sector, hence a lot of institutional interest from outside the region,” Saleem Khokhar, head of equities at NBAD Asset Management Group, which oversees about $2.5 billion, said by phone from Abu Dhabi. “I’m very confident that secondary market trading will be very positive.”"
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