Dubai's latest IPO - Tecom Group - hits DFM in full tilt on debut
Back-to-back listings of DEWA and Tecom is pumping liquidity onto DFM
Source: gulfnews.com
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Back-to-back listings of DEWA and Tecom is pumping liquidity onto DFM
Tecom is the second of 10 proposed privatisations in Dubai as part of the city’s plans to bolster its capital markets.
Tecom’s offer was oversubscribed 21 times, while DEWA generated interest 37 times over
Tecom Group, a member of the Dubai Holding group, has announced that, following the completion of the book building and subscription process for its IPO, it has set the final offer price for its IPO at AED2.67 per share.
Company plans to list on DFM on or around July 5