Dubai's Spinneys supermarket chain plans a $375m private-sector listing on Dubai Financial Market, with a valuation of up to $1.5bn.
Dubai's high-end supermarket chain Spinneys is seeking to raise up to $375m through a rare private-sector listing on Dubai Financial Market. The family-run business plans to sell 900m shares at 1.42 to 1.53 dirhams each, valuing the company at up to 5.5bn dirhams ($1.5bn). Franklin Templeton is among the cornerstone investors in the IPO, which is expected to begin trading a week after the final price is announced.
April 23, 2024
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