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FINANCIAL NEWS
Marka to become first public shareholding company UAE’s retail
20 Mar 2014
(MENAFN) IPO of Marka, a public joint stock company under incorporation, showed a new beginning for the UAE IPO market which saw an IPO drought for several years, according to the Emirates 24/7.
The announcement was revealed by Jamal Al Hai, Executive Senior Vice-President of Dubai Airports and Chairman of the Founders Committee of Marka.
Al Hai said: “The feedback that we have been getting since announcing that we are in the process of receiving regulatory approvals for establishing Marka as a public joint stock company demonstrates the notable appetite in the market for IPOs, where prominent investors have rushed to express their desire to join the founders, and we have seen significant interest from institutional and individual investors.”
Marka, which is scheduled to list its shares on the Dubai Financial Market, will be the first public shareholding company in the UAE”s retail sector to get listed besides being the first IPO on the Dubai Financial Market in several years.
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