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Good growth ahead for local IPO market.
(From Gulf News)
Byline: Manoj Nair, Staff Reporter
The next 12 months could represent a growth period for the IPO (initial public offering) market in the UAE.
Damas, the family-owned jewellery chain, has just announced plans for an IPO of about Dh1.1 billion, and others are thought to be waiting in the wings, noted Suresh Kumar, general manager at EBG.
"A very welcome trend is that of established businesses becoming corporatised and offering shares to the public at large.
"This would help foster market growth; especially if the authorities allowed a little more flexibility to well-performing businesses - with regard to the size …
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