Emaar's malls unit IPO to raise US$1.58b
[DUBAI] Investors will have a chance this month to own part of a dancing fountain, an underwater zoo and an ice-skating rink in Dubai.
Emaar Properties, owner of the world's biggest shopping centre, said on Sunday that it's seeking to raise as much as US$1.58 billion from the initial public offering of its malls unit in the United Arab Emirates' biggest IPO since 2007.
Emaar Malls Group plans to sell two billion of its founders' shares, or about 15 per cent of its equity, in a price range of 2.5 dirhams to 2.9 dirhams apiece, according to a company statement to the Dubai Fin…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
DBS puts 46 retail units, HDB shops on market for S$210 million
US mortgage rates jump above 7% for the first time this year
Far East Shopping Centre back on market at unchanged S$928 million asking price
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases