Trading began in Emirates REIT today on Nasdaq Dubai following its initial public offering (IPO), in the first listing of a Real Estate Investment Trust (REIT) on an exchange in the GCC.
Emirates REIT raised $175 million in its IP
Dubai-based real estate investment trust Emirates REIT said it had expanded the size of its initial public offer of shares on Nasdaq Dubai, the emirate's first IPO since its financial crisis erupted in 2009, because of strong demand.
Dubai-based real estate investment trust Emirates REIT said on Sunday that it set the price range for its initial public offer of shares at $1.36 to $1.56 per share, and expects the listing on Nasdaq Dubai to occur around the middle of April.
The United Arab Emirates' first real estate investment trust (REIT) plans to sell shares in an initial public offer on the Nasdaq Dubai bourse before the end of this year, three people aware of the plan said.
Emirates REIT, wh