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Emaar Malls Group Opens 24-Hour Call Centre Ahead Of IPO Launch

Emaar Malls Group Opens 24-Hour Call Centre Ahead Of IPO Launch

The retailing unit of Emaar Properties will launch an IPO on the Dubai Financial Market on September 14.

Emaar Malls Group (EMG) announced that it has launched a 24-hour call centre to help investors based in the UAE understand the key details of its initial public offering (IPO) on the Dubai Financial Market (DFM).

EMG, the malls and retail business subsidiary of developer Emaar Properties, will launch the $1.4 billion IPO on September 14, and list on Dubai’s main stock market on October 2.

Emaar expects to sell at least 15 per cent of EMG, amounting to 1.95 billion shares, as part of the offering, with 30 per cent made available to individual investors.

While 70 per cent will be offered to qualified institutional investors, 10 per cent of that will be targeted for preferential allocation to existing Emaar shareholders as of September 10, 2014, it said.

The offer is expected to be one of the largest IPOs in the Middle East since the financial crisis in 2008.

Mohamed Alabbar, chairman of Emaar Properties, said: “The IPO of EMG is a milestone for the development of the UAE capital markets as, for the first time, it combines institutional and retail shareholders in the same offering on the DFM.

“Emaar Malls Group has delivered strong growth and profitability in the last six years that has enabled it to make substantial investments which are expected to increase its GLA by around one million square feet by 2016 and enhance the group’s revenue and margins.”

To enquire on the EMG IPO, and find out more information on the subscription process, investors can dial the call centre on 800 EMG IPO (800 364 476), the company said.

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