Interested in Emaar IPO But Short of Cash? Take a Loan - Bloomberg

Interested in Emaar IPO But Short of Cash? Take a Loan - Bloomberg:



"“Interested in Emaar IPO but short of cash?” asks a text message from a United Arab Emirates lender to customers. If so, there’s good news: local banks are making it easier to borrow money and invest in shares.



Mashreqbank PSC (MASQ), Dubai’s third-largest lender, is offering account holders loans of about $2,700 to take part in the initial public offering by the retail division of Emaar Properties PJSC (EMAAR), the country’s largest IPO since 2007. Emirates NBD, the second-biggest bank, greets customers with a message encouraging them to buy shares in the IPO through its automated teller machines or when they log in to their accounts online.



Emaar Malls Group PJSC is seeking to raise as much as $1.58 billion, with orders received for all the stock allocated to institutional investors within two days of the sale starting. Individuals can buy as much as 30 percent of the shares, giving them the chance to bet on the world’s second-best performing stock market this year, according to data compiled by Bloomberg."



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