The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae10 hours ago
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
The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae10 hours ago
Dravid's tenure comes to an end after the T20 World Cup 2024 in the USA and West Indies
sports11 hours ago
Stand-in skipper Jitesh believes the absence of key England players will not affect his side's morale on Sunday
sports11 hours ago
Netanyahu came under personal attack from Defence Minister Yoav Gallant for failing to rule out an Israeli government in Gaza after the war
world11 hours ago
The fund is designed to finance the production of artistic and creative works in film, music, performances, and video games
uae11 hours ago
Fico has been in hospital since Wednesday when a lone gunman shot him four times, including in the abdomen
world12 hours ago
The country was one of the donor states to freeze around $450 million in funds after Israel accused 12 UNRWA staff of participating in the Hamas-led attack
world13 hours ago
This inclusive community service is available daily on Al Hamriya Beach from 6.00am to sunset
uae13 hours ago