Informed sources have stated that oversubscriptions from Emaar Malls’ initial public offering (IPO) will be returned to customers’ accounts on October 1, one day prior to Emaar Malls’ listing on the Dubai Financial Market (DFM), Al Bayan newspaper reported.
The IPO’s 1.95 billion shares were oversubscribed several times than required, an informed source revealed.
Investors’ demand for the IPO were perfect, said Shaker Zenil, branch head of Mashreq Branch – Middle East, adding that subscription to the IPO in the last three tripled compared to the first seven days.