Drake & Scull gets $34bn from IPO
Complex Made Simple

Drake & Scull gets $34bn from IPO

Drake & Scull gets $34bn from IPO

Dubai construction and engineering firm Drake & Scull International attracted Dhs124bn ($34bn)from 45,600 investors in its initial public offering that was oversubscribed 101 times. The 1.2 billion shares were priced at Dhs1 each and an offering cost of Dh0.02 per share. The company will use the proceeds from the IPO to expand in the region and acquire companies to secure access to raw construction and engineering materials.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved