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MENAFN - Khaleej Times - 15/09/2008

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(MENAFN - Khaleej Times) Drake and Scull International (DSI) is looking to acquire companies in the region as it prepares to start trading its shares on the Dubai Financial Market before the year-end following its Constitutive General Assembly (CGA) on Thursday.

"DSI is currently evaluating a number of companies as potential acquisitions that would extend its geographical presence in the leading construction markets in the MENA [Middle East and North Africa] region," said regional investment bank Al Mal Capital. A joint lead manager with HSBC Middle East for DSI's initial public offering (IPO) in July, Al Mal said in a statement on Sunday that all the items on the CGA agenda were approved during Thursday's meeting.

"Therefore, the company has been incorporated and the board of directors, which is comprised of nine members, has been appointed," it added. DSI's IPO was 101 times oversubscribed with about 45,600 investors offering bids worth Dh124 billion .

 






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