Dubai's TECOM Group has debuted on the Dubai Financial Market (DFM) successfully.
The IPO was 21 times oversubscribed with total gross demand surpassing AED 35.4 billion.
The final offer price was set at AED 2.67 per share, giving it a valuation of AED 13.4 billion.
Speaking exclusively to ARN News, Abdulla Belhoul, CEO of Tecom Group says it's an important milestone for Dubai and the group, and gave details of the demand for the share offering.
Indian court orders Maruti to replace car in first E20 fuel damage ruling
In a ruling that could expose automakers to greater liability over India's ethanol-blended fuel policy, a consumer court has ordered Maruti Suzuki to provide a new car to a customer who alleged mandatory E20 fuel damaged his vehicle.
Irish airline Aer Lingus plans 500 job cuts as fuel prices soar
Irish airline Aer Lingus could cut up to 500 jobs as part of a reorganisation, it said, citing high costs and a challenging economic environment as the sector grapples with surging oil prices due mainly to the US-Iran war.
Parkin expands into Sharjah's Aljada with partnership with Arada
Starting today, Parkin has expanded its smart paid parking services to Sharjah's Aljada following a five-year partnership with developer Arada.
US states sue to block Paramount’s $110 billion Warner Bros Discovery deal
California and 11 states have sued to block Paramount's $110 billion acquisition of Warner Bros. Discovery, alleging the deal would create a media behemoth with the power to raise prices in film and television.
Dubai steps up coordination to boost supply chains, trade flow
The Dubai Ports Authority has held a coordination meeting with shipping companies, cargo operators and key partners to enhance the efficiency of container movement and goods through Dubai's ports.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
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