Emaar Plans to Raise $1.5 Billion From Development Unit IPO - Bloomberg:
"Emaar Properties PJSC is seeking to raise as much as $1.5 billion from the initial public offering of its United Arab Emirates development business in what would be the country’s biggest share sale since 2014.
The developer of the world’s tallest skyscraper plans to sell 800 million shares in Emaar Development PJSC at a price range of between 5.7 dirhams ($1.55) and 6.9 dirhams per share, the Dubai-based company said in a statement to the bourse on Thursday. The IPO opens today, with about 10 percent of the shares available to retail investors and 90 percent to institutions."
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