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New law to boost IPOs in Abu Dhabi
- Wednesday, March 05 - 2008 at 09:58
The head of the Abu Dhabi Securities Market said expected changes in the emirate's commercial companies law may encourage family businesses to go public and will bring a boom in IPO activity during next couple of years, reported Khaleej Times. ADSM's director general Tom Healy said the new law will help launch 'hundreds of companies going public and raise hundreds of millions of dollars worth capital'. The new offerings will give depth to the market, which has Dhs435bn ($119bn) capitalisation from 66 listed companies and two convertible bonds, he added.
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Jeff Florian, Senior ReporterWednesday, March 05 - 2008 at 09:58 UAE local time (GMT+4)
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