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Emaar hoping USD 1.5 Billion by IPO

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As per the sources available with www.propertykhazana.com, Emaar MGF Land Pvt. Ltd. is proposing to sell its 10% share through an IPO in India and is also under consideration to increase about $1.5 Billion depending on the market situation to make it as the country’s largest listing.
40% of the company is possessed by the Dubai’s Emaar Properties as the MGF development has 60%. Created by the Emaar properties PJSC and MGF Developments Ltd. of India, Emaar MGF has filed a catalog with the India’s market regulator and the company will present up to 11.74 Million shares in the auction comprising Pre-IPO Placement at the rate which will be decided through the book-building issue, added the source at the www.propertykhazana.com. The regulator will take about a month to consent the issue and once the company gets the green signal then it will present the shares in coming financial quarter. Market situation will decide regarding the rates of the issues to let it go and if in case the market goes up to 18,000 or to 19,000 it will be a diverse chronicle in total.
Source: NBTVLIVE

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