Middle East Economic Survey

VOL. XLVIII

No 41

10-October-2005

UAE

Dana Gas IPO Heavily Oversubscribed

Dana Gas initial public offering (IPO) closed heavily oversubscribed on 3 October. The Dh2.06bn ($561mn) IPO is expected to have attracted more than Dh280bn ($76bn). Individuals and institutions of 87 nationalities applied for shares in the Dh1.27bn ($346mn) wholesale tranche of the IPO, while around 390,000 investors applied in the Dh700mn ($191mn) retail tranche open to small GCC investors, Gulf...