Dubai Mercantile Exchange sells 20% Stake to Goldman, Vitol

Dubai Mercantile Exchange, a venture with Nymex Holdings Inc., sold a 20 percent stake to financial firms including Goldman Sachs Group to attract more international investors to the bourse, according Bloomberg.
Morgan Stanley, Vitol Group and Royal Dutch Shell Plc also bought a share of the stake, Ahmad Sharaf, chairman of the exchange, said today in a conference call in Dubai. Read more

DAMAS scheduled to list on the DIFX on July 8

Damas International Limited announced in a statement that it raised $270.6 million (Dh993.94 million) from an Initial Public Offering (IPO) aimed to fund expansion.

Damas, which has stores in 18 countries, priced the stock at the lower end of its indicated range, selling 270.6 million shares to institutional investors outside the UAE at $1 each.

This gives the company a value of $968.6 million (Dh3.56 billion). Read more

Damas eyes $355 mln in IPO

The jewellery group Damas aims to raise as much as $354.73 million in an initial public offering to fund expansion in the Middle East, north Africa and south Asia.