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22 April 2024

UAE public offerings to hit Dh3.5bn

By Agencies


Seven companies, including Damac for Commerce and Services, plan to sell shares in initial public offerings in the UAE before July to raise Dh3.57 billion ($973 million), al-Bayan newspaper reported on Sunday.

Ajman Bank plans to raise Dh550 million next month and Damac for Commerce Dh900 million in June, the newspaper reported, without identifying its sources.

Al-Khaleej for Medical Projects wants to raise Dh350 million and Takaful al-Emarat Dh83 million, both in March, the newspaper said.

Al-Nahda al-Alameya for Education is looking to sell as much as Dh750 million of shares, the newspaper reported, without saying when.

Investors are still setting up five of the companies that together plan to raise Dh2.36 billion, the newspaper said, without identifying them.

Dubai Investments Co, meanwhile, plans to sell Dh858 million of shares, the paper reported. (Reuters)