Middle East Economic Survey
Dana Gas IPO 140 Times Oversubscribed
Dana Gas Founders Committee announced on 10 October that its initial public offering (IPO) closed 140 times oversubscribed on 3 October. The Dh2.06bn ($561mn) issue collected Dh288bn ($78bn) from a record 413,000 subscribers. The Dh700mn ($191mn) retail tranche reserved for small GCC investors attracted 398,000 applications (44% of which came from the UAE and 56% from the five other GCC states)....