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Deyaar sets up for IPO

UAE real estate company, Deyaar, has announced that it has secured the approval of the UAE's Ministry of Economy to launch its Initial Public Offering (IPO).

The issue is slated to open on May 6, 2007 and will close on May 16, 2007. The total size of the offering is US $865.4 million (AED3.178 billion) allocated over 3.178 billion shares, representing 55% of the company's capital.

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