An Abu Dhabi real estate developer's plan to list its shares in Saudi Arabia is a step towards making Gulf equity markets more international. But it is not clear that the company will benefit enough to start a trend.
Newly-listed Eshraq Properties plans to focus on three real estate projects in the UAE and expand into Saudi Arabia in the short-term, its chairman told Reuters.
Eshraq, which secured listing on the Abu Dhabi Securities Market on Thursday,
UAE property firm Eshraq raised Dh825 million ($225 million), its target amount, in an oversubscribed offer that signals renewed interest in the battered property sector, bankers said on Thursday.
Eshraq's initial public offering, the
UAE property firm Eshraq plans to sell a 55 per cent stake worth an estimated $224 million in an initial public offering (IPO) next month and list on the Abu Dhabi stock exchange (ADX), a banker has said.
The banker said that several UAE b