Dubai construction and engineering firm Drake & Scull International attracted Dhs124bn ($34bn)from 45,600 investors in its initial public offering that was oversubscribed 101 times. The 1.2 billion shares were priced at Dhs1 each and an offering cost of Dh0.02 per share. The company will use the proceeds from the IPO to expand in the region and acquire companies to secure access to raw construction and engineering materials.
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