Dubai’s IPO

According to DP World, the initial public offering (IPO) was oversubscribed 15 times and the company priced its shares at US$1.30, the top of the indicative band of US$1.00- 1.30.

After allocating 25% of the shares to the holders of DP World parent Ports, Customs and Free Zone Corp (PCFC), almost 10% of the remaining shares will go to retail investors while the rest will go to institutional investors, split equally between the Gulf region, US and Europe.

There was a strong response from around the world, particularly from the UAE from where around 66,000 applications were received totalling around US$4.4 billion.