Dubai's TECOM Group has debuted on the Dubai Financial Market (DFM) successfully.
The IPO was 21 times oversubscribed with total gross demand surpassing AED 35.4 billion.
The final offer price was set at AED 2.67 per share, giving it a valuation of AED 13.4 billion.
Speaking exclusively to ARN News, Abdulla Belhoul, CEO of Tecom Group says it's an important milestone for Dubai and the group, and gave details of the demand for the share offering.
UAE, Oman establish investment partnerships worth AED 129 billion
The UAE and Oman have agreed to establish investment partnerships worth AED 129 billion.
Spinneys sets IPO price range at AED1.42-AED1.53
Supermarket chain Spinneys is seeking to raise as much as $375 million from the sale of a 25 per cent stake in an initial public offering, it disclosed on Tuesday.
Meta opens Quest operating system to third-party device makers
Meta Platforms is sharing its Quest headset's operating system with rival device makers, including Microsoft, for the first time, it said on Monday, as it works to extend its influence over the emerging virtual and mixed reality industry.
UAE calls for international collaboration to solve global challenges
The United Arab Emirates has committed to further global collaboration to find solutions to worldwide issues during the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) held in Washington D.C.
