DP World IPO closes - ET 16 Nov 2007
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DP World IPO closes - ET 16 Nov 2007

 
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DP World IPO closes - ET 16 Nov 2007

Posted on Fri 16 Nov 2007 10:41 by sharewadi 		Reply with quote
There's not been much in the news the past week about investor demand for the DP World IPO. And this article today makes you wonder how much demand there really was. We'll find out soon enough with the listing on Dubai International Financial Exchange (DIFX) scheduled in 10 days time. See also...

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Emirates Today 16 November 2007 wrote:
DP World public issue closes

The DP World (DPW) initial public offering closed for retail investors yesterday, with the company saying it is pleased with the response.

Executives remain tight-lipped over the Dh16-billion IPO – the largest in the Middle East – with the deadline for institutional investors closing on November 20.

The receiving banks are also unwilling to comment on demand from retail investors.

Reports in the Saudi press, however, suggest the IPO is not receiving overwhelming demand from regional institutions because of fatwas issued by Islamic clerics. The fatwas forbid participation in the floatation because DP World is dealing with ports from where alcohol is transported, while the company also has a stake in the US-based MGM Mirage, which is linked to gambling, Dow Jones reports the Riyadh business daily Eqtisadiah as saying.




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