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Meraas Holding to launch Dubai Parks IPO Nov 17

Meraas Holding to launch Dubai Parks IPO Nov 17
Dubai-based Meraas Holding is said to getting ready to launch an initial public offering (IPO) of 40% (AED 2.5 billion) of its subsidiary Dubai Parks and Resorts, whose capital amounts to AED 6.125 billion.

Banking sources have told Al Khaleej newspaper that it is likely the IPO will begin on November 17 in one of the two UAE markets. The IPO is managed by three main banks, namely: Emirates NBD, Goldman Sachs and HSBC. It is likely that 60% of the IPO will be allocated to firms and institutions and 40% to individuals on two tranches at AED 1 per share.

Worth noting, Meraas Holding specialises in real estate development, entertainment, retail and asset management.