Business | Markets

Damas IPO raises $270.6 million; priced at lower end of range

Damas International Ltd., the Dubai- based jeweler with stores in 18 countries, said it raised $270.6 million from an initial share sale after pricing the stock at the lower end of its indicated range.

  • Bloomberg
  • Published: 14:21 July 7, 2008
  • Gulf News

Damas International Ltd., the Dubai- based jeweler with stores in 18 countries, said it raised $270.6 million from an initial share sale after pricing the stock at the lower end of its indicated range.

Damas sold 270.6 million shares to institutional investors in the Gulf and Europe at $1 each, the company said in an e- mailed statement today.

Damas on June 18 said it would sell shares for between $1 and $1.14 each.

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