DUBAI, June 16 (Reuters): Dubai business park operator Tecom Group set price guidance on Thursday for its initial public offering that showed it could raise up to 1.67 billion dirham ($454.7 million) in the listing.
Tecom Group, owned by the investment vehicle of Dubai's ruler, plans to sell 625 million shares, or 12.5 per cent of issued share capital, at a price range of 2.46 dirham ($0.66) and 2.67 dirham ($0.72) per share.
That implies a market capitalisation of between 12.3 billion dirhams and 13.4 billion dirhams, said the group, which operates ten business parks and districts across the emirate of Dubai.
Tecom Group sets price for IPO of up to $454m
FE Team | Published: June 16, 2022 23:45:18

Tecom Group sets price for IPO of up to $454m
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