Emaar Development’s $1.5bn Dubai IPO covered on day one

By Aidan Gregory
02 Nov 2017

The $1.5bn IPO of Emaar Development, the property development unit of Emaar Properties, was covered less than one working day into the bookbuild this week, according to a banker involved.

Emaar Properties is selling 800m existing shares, a 20% stake in the subsidiary, at a price range of Dh5.7 to Dh6.9 a share.

That means that the deal size will be Dh4.56bn ($1.24bn) to Dh5.52bn ($1.5bn), and Emaar Development will be valued at Dh22.8bn ($6.2bn) to Dh27.6bn ($7.5bn). ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.