Emirates REIT trades up on Nasdaq Dubai debut

By Nina Flitman
10 Apr 2014

The newly listed shares of Emirates REIT traded up on their first day on the Nasdaq Dubai on Tuesday, after the IPO for the Sharia-compliant investment firm was increased in size and priced at the bottom of the range at the end of last week.

The $175m IPO was three and a half times oversubscribed and increased from a planned $150m to meet investors’ demand. Some 128.7m new shares were sold at $1.36 each, the bottom end of an initial pricing range of $1.36-$1.56. The final pricing implied a market capitalisation of around ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial