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Why was an Initial Public Offering (IPO) share offering made?

initial IPO offering public share
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Why was an Initial Public Offering (IPO) share offering made?

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The initial public offering (IPO) in early 2005 raised AED 1.5 billion, of which AED 675 million was subscribed by the founder shareholders, with AED 825 million allocated through public subscription to UAE nationals. The share offer price was AED 1 per share.

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