(MENAFN) Dubai luxury property developer Damac is trying to attract investors to invest in converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that would be listed on Dubai's main stock market, according to Arabian Business.
Damac said that investors would get around 23.08 shares per GDR. They have until September 2 to decide on the offer.
No new shares would be listed and executive chairman Hussain Sajwani would continue to hold 85 percent of the company.
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