Burjeel Holdings, a leading UAE expatriate Malayalee venture, made a huge advance in the initial share sale. According to reports, the initial share sale was oversubscribed 29 times. The share price is 2 dirhams. It aims to raise 110 dirhams (Rs 2,420 crore) through the IPO.
The shares will be listed on October 10. It is estimated that the market value will reach around 1,040 crore dirhams when listed on 10th. VPS Healthcare Holdings Company will have 70 percent stake in Burjeel Holdings. Earlier, UAE-based International Holdings Company had acquired 15 percent stake. Meanwhile, once the IPO goes ahead, Burjeel Holdings will become one of the largest listed companies in the healthcare sector.
Also Read: Daria Killing, With Ukraine’s Knowledge: Report Worries Russia