More firms seek listing on DIFX
The number of companies looking to list on the Dubai International Financial Exchange (DIFX) is growing with two more companies yesterday either stating or reconfirming their intention to do so.
Nano Dynamics, a New York-state based clean technology firm, said it would list on the DIFX by the end of January, selling shares worth $100 million to US and Gulf investors in a private placement.
"The company plans to list on the DIFX by the end of this month. It's the company's primary listing, Nano Dynamic's Middle East adviser, David Pistrui, told Zawya Dow Jones. He said the company is "in talks with regional corporate and government entities to do infrastructure projects in the power and water sectors."
Depa United Group, one of the region's interiors contracting company, plans to sell shares in an initial public offering (IPO) in about a month, one of its shareholders said yesterday.
"We're planning to float Depa in about one month," chief executive of Gulf Capital, Karim el-Solh, told Reuters.
Last October, Depa's managing director, Noor Sweid, said that it aims to raise at least $400 million in the first half of 2008 and list the stock on the DIFX as well as Global Depositary Receipts (GDRs) on the London Stock Exchange to "provide additional liquidity."
"We plan to continue our strategy of the last two years of expansion organically and through acquisition," said Sweid, whose Depa is considering $500 million of takeovers and related purchases during the next few years, she told Reuters.
Chief Executive Mohannad Sweid owns 15 per cent of Depa, which fits out luxury hotels and yachts.
Last year, it won Dh597.6 million contract to fit out apartments in Burj Dubai, the world's tallest building.
Its Dh430 million contract-financing deal to help service the contract was one of the largest such deals ever struck in the interior contracting industry. Source
Nano Dynamics, a New York-state based clean technology firm, said it would list on the DIFX by the end of January, selling shares worth $100 million to US and Gulf investors in a private placement.
"The company plans to list on the DIFX by the end of this month. It's the company's primary listing, Nano Dynamic's Middle East adviser, David Pistrui, told Zawya Dow Jones. He said the company is "in talks with regional corporate and government entities to do infrastructure projects in the power and water sectors."
Depa United Group, one of the region's interiors contracting company, plans to sell shares in an initial public offering (IPO) in about a month, one of its shareholders said yesterday.
"We're planning to float Depa in about one month," chief executive of Gulf Capital, Karim el-Solh, told Reuters.
Last October, Depa's managing director, Noor Sweid, said that it aims to raise at least $400 million in the first half of 2008 and list the stock on the DIFX as well as Global Depositary Receipts (GDRs) on the London Stock Exchange to "provide additional liquidity."
"We plan to continue our strategy of the last two years of expansion organically and through acquisition," said Sweid, whose Depa is considering $500 million of takeovers and related purchases during the next few years, she told Reuters.
Chief Executive Mohannad Sweid owns 15 per cent of Depa, which fits out luxury hotels and yachts.
Last year, it won Dh597.6 million contract to fit out apartments in Burj Dubai, the world's tallest building.
Its Dh430 million contract-financing deal to help service the contract was one of the largest such deals ever struck in the interior contracting industry. Source
No comments:
Post a Comment