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FINANCIAL NEWS
Damac to raise USD500 m from London IPO
04 Nov 2013
(MENAFN) UAE-based Damac said that it plans to float on the London Stock Exchange aiming to raise USD500 million, Arabian Business reported.
The property developer stated that the shares will be offered in the form of Global Depository Receipts (GDRs).
The company said it has developed 8,887 properties since 2002 at a total worth of USD3.1 billion. Last year’s profits came at USD212.1 million from USD692 million in sales, while in this year’s first half, profits of USD332 million were recorded from sales of USD631.9 million.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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