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Dana Gas $1.06bn placement closes

The Founders Placement for up to $1.06bn in Dana Gas, the new $1.63bn regional gas company to be incorporated in the UAE, closed to strong regional demand, according to lead investor Crescent Petroleum cited in Gulf News. There are plans to hold a $572m IPO for mid-September, which will result in Dana Gas being the first private sector regional gas resource company to be privately listed.