UAE: Drake & Scull International’s IPO raised over AED450 million (US$122.5 million) to surpass its capitalization target and it is eyeing resumption of its listing status on the Dubai Financial Market. The contractor was suspended in 2018 for insolvency but managed to get 90% of debts written off and the remainder 10% funnelled into a Sukuk issue in early 2024.
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