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Emirates NBD Capital finalises UAE’s first IPO in 2017

Emirates NBD Capital finalises UAE’s first IPO in 2017
(Photo Credit: Company Press Release)

Dubai – Mubasher: Emirates NBD Capital (EmCap) has completed its role in the IPO of Emirates NBD REIT, which listed its shares on Nasdaq Dubai on 23 March 2017, according to a statement.

ENBD REIT issued 94.59 million ordinary shares at a price of $1.11 per share, which climbed to $1.17 (up 5.17%) on the first day of trading.

The final offer price of $1.11 per share is equivalent to a 7.5% discount on net asset valuation (NAV).

The IPO was Dubai’s first since Dubai Parks & Resorts floated in December 2014, a transaction on which EmCap was also joint global coordinator and joint bookrunner.