Depa aims for $418m in April IPO


Dubai interiors contractor Depa Ltd said it on Sunday it aims to raise at least $418 million in an initial public offering this month to help finance expansion, including acquistions and entry into new markets. 

The company plans to sell as many as 278.91 million shares at between $1.50 and $1.85 each, and global depositary receipts at between $7.50 and $9.25, it said in a statement.

The shares represent as much as 43 per cent of the company, it said.

The sale to individuals will end around April 13, it said. (Reuters)