Dubai
Emaar Development is anticipating a dividend yield of more than 9 per cent post its initial public offering, Mohammad Al Abbar, Chairman of Emaar Properties said.
“We are targeting dividends of $1.7 billion, to be paid out over the next three years. Based on our current price range of Dh5.70- 6.90 per share, we are anticipating dividend yield in the range of 7.54-9.13 per cent, which are strong returns for this current market climate,” Al Abbar said.
Emaar Development plans to raise Dh5.5 billion through IPO, and the subscription period is underway for retail and institutional players.
“We have seen substantial interest in the Emaar Development IPO since subscriptions began last week. Within hours of the subscription opening, our order book was fully subscribed, indicating strong investor interest,” Al Abbar said.
