Eshraq is seeking to raise $224 million in an initial public offering, Reuters reports. The UAE property firm is planning to sell a 55% stake in February and list on the Abu Dhabi Securities Exchange (ADX). The Abu Dhabi-based company, which will offer around 825 million shares, has a total capital of $408.4 million. According to Chairman, Saleh Mohammed Bin Nasrah, the developer has already secured an approval from the Securities and Commodities Authority to become a public shareholding company.
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