Complex Made Simple

Dana Gas, $564m UAE IPO

Dana Gas, the first regional private-sector gas resource company to offer shares to the public, has announced details of its $564m initial public offering, having received the necessary regulatory approvals. The IPO for 34.33% of its capital will open for public subscription on September 20 and will close on October 2. Nearly a third of the shares have been reserved for small investors who are citizens of the GCC, and the rest are open to all nationalities. HSBC is lead manager of the IPO.