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FINANCIAL NEWS
Dubai’s Daman to launch a second private placement
13 Sep 2012
(MENAFN) Dubai-based Daman Investments unveiled plans to launch a second round of funding, Arabian Business reported.
CEO Shehab Gargash said that the company is preparing to sell 800,000 shares, which are expected to be sold for more than USD74 per share. He declined to say when.
The company has increased its shareholder base in June, as it sold a 22.7 percent stake through a private placement which values the company at USD119.8 million.
Daman Investments originally planned an IPO before the end of 2012, but in August it said it would postpone it until 2015 because the market environment is not ready.
Daman’s plan is for one third of the company to be publicly held, while the original investors retain a third and the rest is held by investors that came in between such as the recent private placement.
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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