Al Benaa to launch IPO
United Arab Emirates: Thursday, April 17 - 2008 at 07:27
Abu Dhabi-based Al Benaa Real Estate Investment plans to launch an initial public offering (IPO) later this year, reported Gulf News. The company, which was incorporated in June 2006, plans to call for the second 50% of the paid-up capital from the shareholders very soon, said the firm's CEO Noura Al Nowais. Al Benaa's authorised capital is Dhs100m ($27.2m), of which Dhs50m is fully paid by the shareholders, who include institutions and high net-worth individuals such as Abu Dhabi Islamic Bank and Shaikh Soroor Bin Mohammad Al Nahyan.
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Jeff Florian, Senior ReporterThursday, April 17 - 2008 at 07:27 UAE local time (GMT+4)
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