MIDEAST STOCKS-Emaar Malls IPO weighs on Dubai; Suez Canal success lifts Egypt | Agricultural Commodities | Reuters:
"A rush by Dubai's retail investors to take part in the initial public offer of Emaar Properties' malls unit put pressure on the emirate's stock market on Tuesday, while successful fund-raising for the Suez Canal expansion lifted stocks in Egypt.
Emaar said late on Monday that institutional investors had committed to buying all the shares offered to them in the flotation of its shopping malls business, only a day after the IPO was launched.
Dubai's largest property developer plans to raise as much as 5.8 billion dirhams ($1.58 billion) from the offer of a 15 percent stake in Emaar Malls Group (EMG), which is expected to be the Gulf's biggest stock sale since 2008."
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