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10-04-14

UAE's Marka plans to invest in fashion, food markets

(MENAFN) Dubai-based Marka is planning to use the funds it will generate through its proposed first initial share offering to launch more than 100 fashion stores, restaurants and cafes in the Gulf region, The Peninsula Qatar reported. The company set to float 55 percent of its capital to the public. Around 275 million shares will be offered in a 12-day sale beginning next week. Marka currently has no operations and is still undergoing incorporation, therefore investors will commit to a concept. The firm is planning to invest in the fashion retail and food markets in the Gulf region, especially the UAE.