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Nakheel plans mammoth Middle East IPO, JPM to lead

The Middle East could soon witness its largest IPO so far as property developer Nakheel is preparing a $10bn stock market listing. Although the region’s IPO market remains shut, a deal is possible in 2009, with a listing on Nasdaq Dubai as well as on the London stock market expected. JP Morgan is mandated on the transaction, say people with knowledge of the market. Do equity bankers think a deal in these circumstances is realistic? Turn to EuroWeek on Friday.

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