Damas mulls dual listing
Dubai, August 6, 2008
Jewellery retail chain Damas has not ruled out a dual listing after its listing in July on the Dubai International Financial Exchange (DIFX) saw little liquidity, an official said.
’If things don’t go up then we’ll have to consider other options,’ Damas’ CFO P K Dutta was quoted as saying by Emirates Business newspaper.
Damas priced an initial public offering on the Dubai International Financial Exchange (DIFX) in July at $1 a share and has seen little turnover in the stock since.
Critics say the exchange has generated disappointing investor interest and that turnover remains thin.
Dutta said the group, the only retail listing on the DIFX, would need 8-9 months to decide.
’We will watch and only at the appropriate time when we feel our interests will be better served somewhere else, will we look at a dual listing,’ he said. - Reuters