EMAAR Malls Group LLC, an owner and operator of shopping malls in Dubai, has priced its initial public offering between 2.50 dirhams and 2.90 dirhams per share. The offer could raise up to $1.58 billion.
At the mid-point of the price range, the company's market capitalization at admission would be around 35.1billion dirhams or about $9.6 billion.
The offer includes 2 billion shares, representing around 15.4 percent of the share capital. It will be available to individual investors and qualified institutional investors.
The announcement of final pricing is expected to occur on September 29.
Admission is expected to occur on October 2 and unconditional dealings in the shares on Dubai Finacial Market are expected to commence on the same day under the symbol "EMRMLS".
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