MIDEAST STOCKS-Emaar Malls IPO may temporarily siphon more money from Dubai
Dubai's bourse may remain soft on Wednesday as retail investors temporarily take money from the market in order to participate in the initial public offer of Emaar Malls Group (EMG), while Saudi Arabia and Egypt look more positive.
Dubai shares fall after three days of gains
Dubai’s benchmark index fell on Tuesday, after gaining for three straight sessions, led by Arabtec and Emaar. The Abu Dhabi index also fell led by Dana Gas.
Dubai's Emaar looks to raise USD1.58bn from malls unit's IPO
Dubai's Emaar Properties EMAR.DU is seeking to raise as much as 5.8 billion dirhams (USD1.58 billion) from an initial public offer of shares in its shopping malls unit that is expected to be the Gulf's biggest stock sale since 2008.