24 Jun 2012
(MENAFN) Dubai-based Daman Investments gave away a 22.7 percent stake through a private placement which values the firm at USD119.8 million, Reuters reported.
The investment management firm also unveiled plans to float shares in an initial public offering.
Daman said it gained USD27.23 million from the sale of 588,235 new shares.
The sale is part of Daman’s plans to broaden its shareholder base before an eventual initial public offering in the UAE.
In 2009, Daman said it had attracted a strategic investor who committed to invest USD27.23 million in the company, and was moving ahead to secure additional equity investment of about USD54.4 million.
But that fundraising valued Daman at about USD231.35 million, nearly double the current valuation, indicating how bad investment firms in the UAE were hurt after the global financial crisis.
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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