Emaar Development shares drop sharply on first day - The National:
"Shares in Emaar Development, which this month raised Dh4.8 billion in Dubai's third largest IPO ever, traded sharply lower in their opening morning on the Dubai stock exchange, the first significant share debut on the stock market since late 2014. The real-estate development arm of Emaar Properties saw it shares fall over seven per cent at the open on Wednesday, before recovering ground to trade around 3.5 per cent lower after an hour. Emaar Development last week priced its sale of 800 million shares – representing a 20 per cent stake in the company - at Dh6.03 per share, raising Dh4.8 billion in the largest IPO at the lower end of the original pricing guidance of Dh5.7-6.9 per share announced in early November, which was subsequently revised to Dh6.03-6.70 per share."
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