Thursday, 12 June 2008

Ajman Bank PJSC - IPO 77 times oversubscribed

Who said there is no loose capital around at the moment?

Ajman Bank PJSC, an Islamic bank in the United Arab Emirates, will see its IPO begin trading in Dubai on June 22. The bank, based in Ajman, will list on the Dubai Financial Market. The offer received bids of 42 billion dirhams, more than 77 times the value of shares on offer.

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