It reiterated that pilgrims require a Haj visa and it can be obtained through recognised official channels
Dubai-based Tristar Transport, a logistics company, on Wednesday said it has cancelled its initial public offering (IPO) plan due to poor response from the investors.
The company said in a statement that its board and existing shareholders have decided to withdraw its planned IPO on the Dubai Financial Market as existing shareholders’ expectations were not met.
“The board and existing shareholders believe that greater returns can be realised executing Tristar’s current growth strategy under the established shareholder structure,” the company said in a statement on Wednesday.
The company had launched its share sale on April 4 and was planned to close on April 15.
The company had expected to raise between Dh438 million and Dh537 million as part of its primary offering and another Dh90 to Dh240 million from a secondary offering.
Bank of America Securities and Citigroup were appointed coordinators and joint bookrunners on the deal. — waheedabbas@khaleejtimes.com
It reiterated that pilgrims require a Haj visa and it can be obtained through recognised official channels
The 18-year-old was taken to hospital in a serious condition
The brothers, who say they are innocent, are accused of having formed an organised criminal network in early 2021 in Romania, as well as in the US and Britain
The left-handed batter scored 3369 runs in 136 one-day internationals and 2893 in 140 Twenty20 internationals — both Pakistan records
Food supplies were distributed to 80 households
On January 31, a heart was airlifted from Delhi to Chennai, paving the way for Ayesha Rashid's life-saving surgery
The online retailer, which is headquartered in Singapore, has said it has around 108 million monthly active users in the 27-nation EU
The baby girl named Rouh, meaning Soul, suffered respiratory problems and a weak immune system, a doctor at the Emirati Hospital in Rafah said