Abu Dhabi - Decypha: Emirates NBD’s (ENBD) real estate investment trust’s (REIT) initial public offering (IPO) has been completed, Arabian Business reported.

The investment banking division of Emirates NBD, Emirates NBD Capital (EMCAP), oversaw the listing of ENBD REIT, where 94,594,595 ordinary shares were offered at a price of $1.11 per share on Dubai’s Nasdaq stock exchange. The share price climbed 5.17% during the listing to $1.17.

According to a statement by ENBD, the offer is “well oversubscribed with commitments from a mix of investors representing both financial institutions and family offices across the GCC.”

“The success of ENBD REIT’s listing reinforces our position as the UAE’s top IPO investment bank for listings on Nasdaq Dubai and DFM,” said Ahmed Al Qassim, CEO of investment banking at EMCAP

The REIT IPO is UAE’s first public listing of 2017.

By Decypha Editorial Team