Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Emaar MGF to Lead $4 Billion of Property IPOs

2010-04-11

(Bloomberg) -- Emaar MGF Land Ltd. revived plans to sell shares in India for the first time, leading 182 billion rupees ($4 billion) of property offers at a time rising interest rates are deterring homebuyers. Emaar MGF, the Indian joint venture of the United Arab Emirates’ biggest developer, intends to sell stock in the next three months, Shravan Gupta, executive vice chairman said yesterday. The New Delhi-based developer secured approval to sell as much as 38.5 billion rupees of shares, two years after scrapping a planned 64.64 billion rupee offer as stock markets slumped. The sale will compete with Lodha Developers Ltd., Sahara Prime City Ltd. and Nitesh Estates Ltd., which are attempting the second-highest fund raising by property companies. The Bombay Stock Exchange Realty Index has fallen for the past two quarters, while the benchmark Sensex just completed its longest stretch of quarterly gains since the third quarter of 1994. “Investors are negative on property stocks as reflected in the decline of the BSE Realty Index this year,” said Anubhav Gupta, an analyst with Kim Eng Securities India Pvt. in Mumbai. Emaar MGF “may not be able to earn in the next two to three years what they got in 2008 as both the volume and prices are much lower.”


 

2017-06-22
Al-Quds Index at its highest level in three years

2017-06-21
Al-fiter holiday announcement

2017-06-19
Delisting the Arab Palestinian Shopping Center BRAVO from the PEX

2017-06-15
Al-Quds Index rebounds upwards in mid-June

2017-06-08
Al-Quds Index in the red zone in the second week of Ramadan

2017-06-01
New anticipations appear with the start of June

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013