DFM: Market to market
Amid the investor hue and cry sparked by the regional stock market correction, the first Arab stock exchange to go public launched its initial public offering (IPO). Undeterred by the tumbling share prices and plummeting investor confidence evident on its own trading floor, the Dubai Financial Market (DFM) floated 20 per cent of its shares in November. The retail tranche of the AED 1,600 million ($436 million) offering was 300 times oversubscribed a flashback to the IPOs of the boom era.
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