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
  • Gulf News

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.

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