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07-04-14

Dubai's REIT sells over 128 m shares

(MENAFN) Dubai-based real estate investment trust Emirates REIT has recently boosted its initial public offer of shares on NASDAQ Dubai, the emirate's first IPO since its financial crisis erupted in 2009, according to Gulf Daily News. Through the IPO, Emirates REIT will receive as much as USD175 million by selling 128.68 million new shares. The company said shares have been sold to a broad base of institutional investors from different countries, including the UAE, the Gulf and Britain.