Drake & Scull to sell 20m shares in IPO on DFM
Drake & Scull International will sell 55 per cent of its shares in an initial public offering on the Dubai Financial Market as early as the first quarter.
Drake & Scull, which received regulator approval from the United Arab Emirates capital market authority, will offer 20 million shares, SAIB Asset Management Co., an investor in Drake & Scull, said in an e-mailed statement yesterday.
SAIB, a unit of Saudi Investment Bank, invested $37 million through its investment funds in Arabian Gulf countries in the fourth quarter of last year, including Drake & Scull, Riyadh-based SAIB said in the statement. (Bloomberg)
Drake & Scull, which received regulator approval from the United Arab Emirates capital market authority, will offer 20 million shares, SAIB Asset Management Co., an investor in Drake & Scull, said in an e-mailed statement yesterday.
SAIB, a unit of Saudi Investment Bank, invested $37 million through its investment funds in Arabian Gulf countries in the fourth quarter of last year, including Drake & Scull, Riyadh-based SAIB said in the statement. (Bloomberg)
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