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FINANCIAL NEWS
Dubai’s Damac gain USD348 m in London share listing
03 Dec 2013
(MENA) Dubai property developer Damac priced its London offering of Global Depositary Receipts (GDRs) at USD12.25 per share, raising USD348 million and valuing the company at USD2.6 billion, reported by Arabian Bbusiness.
The offering size could increase to USD400 million if a 15 percent greenshoe or over-allotment option is exercised, the company said in a bourse filing. Should this option be activated 15 percent of the company would be listed.
The luxury housing firm initially set a price range of USD12.25-17.25 per GDR on November 14, with the aim of raising USD500 million, before narrowing the range to USD12.25-13.25 and reducing the amount it was looking to raise last week.
A GDR is a certificate that represents a block of shares in a company. GDRs are often issued by firms in emerging market states to allow foreign investors to buy the stock more easily.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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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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