Flurry of Dubai IPOs expected in Emaar’s wake - FT.com

Flurry of Dubai IPOs expected in Emaar’s wake - FT.com:



"Rising valuations on Dubai’s resurgent stock market are luring a flurry of new listings in the wake of last week’s flotation of the emirate’s largest IPO in almost seven years.



Last week, Dubai’s Emaar Properties listed shares in its retail arm on the emirate’s stock exchange, taking orders worth $43bn for its $1.6bn sale of a 15 per cent stake on Dubai Financial Market. The same day, Mohammed Alabbar, Emaar’s chairman, said he would seek to list the group’s hospitality arm.



The return of Emaar, Dubai’s biggest listed company, is set to usher in a new period of activity in UAE and Gulf markets as regional investors chase quick IPO gains, analysts say. The growth comes after years of lacklustre activity in the wake of the global financial crisis and political unrest."



'via Blog this'