|10-02-2014, 04:16 PM||#1|
Emaar Malls Group Shares Soar 20% on Debut
The Emaar Malls Group (EMG) shares soared nearly 20% on the first day of trading for the much-anticipated debut on Dubai`s stock market on Thursday.
Shares quickly jumped 19% to AED3.56 at the first minutes of trading on Thursday, and were last at AED3.27, up 13% as of 11:04 Gulf Standard Time.
GME were to be sold at AED2.90 a share.
The Dubai Financial Market (DFM) was down 1.9% as shares of the EMG were yet to be included in the benchmark index.
Emaar Properties’ EMG shares tallied $1.6 billion in its initial public offering, after a highly successful IPO that saw a massive oversubscription.
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