The initial public offering (IPO) of RAK Properties has attracted huge investor response in the first week.
RAK Properties has been established by the Investment and Development Office of the Government of Ras Al Khaimah to develop real estate in the emirate. The IPO targets to raise Dh1.1 billion from the public and will close on April 12. “We are optimistic about the outcome of this IPO as the response has reached levels beyond our expectations,” said Khaled Al Qubaisi, head, Corporate Finance & Business Development, the National Bank of Abu Dhabi (main subscription bank and subscription records manager).
