Business | Construction
Drake & Scull IPO tallies 1.2 billion shares
UAE-based contracting firm Drake & Scull International PJSC said its initial public offer (IPO) of shares, which closed on July 17, was more than 100 times oversubscribed.
- Staff Report
- Published: 15:34 July 21, 2008
Dubai: UAE-based contracting firm Drake & Scull International PJSC said its initial public offer (IPO) of shares, which closed on July 17, was more than 100 times oversubscribed.
Around 45,600 subscribers applied for some 1.2 billion shares offered. The subscriptions amounted to about Dh124 billion.
The shares were priced at Dh1 each and the minimum subscription limit was 20,000 shares.
Subscribers will be notified of the total amount of offer shares allocated to them starting from July 31, the company said.
More from Construction
More from Business
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
