Dubai's Salik Draws $50 Billion in Orders for $1 Billion IPO [Business News Network (BNN) (Canada)]
Moelis & Company Class A (MC)
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Source: Business News Network
Dubai's road-toll operator drew $50 billion in orders for its initial public offering, underscoring the high demand for Middle Eastern deals despite a worsening backdrop for the global economy. The government sold 1.87 billion shares in Salik PJSC at 2 dirhams each, raising $1 billion, according to a statement on Thursday. The offer price implies a market capitalization of $4.1 billion for the firm, which starts trading on Sept. 29. Middle Eastern listings have a been a bright spot in an otherwise slow market for share sales globally, as inflation fears and volatility have weighed on investors' confidence. A surge in oil prices and investor inflows drove deals in Dubai, Abu Dhabi and Saudi Arabia at the start of 2022, and the pipeline remains busy even after a rally faded over the past few months. Salik is Dubai's third IPO of the year. It follows those of the city's main utility, Dubai Electricity & Water Authority, and business park operator Tecom Group. It's part of a govern
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- Moelis & Company (NYSE: MC) had its price target raised by analysts at UBS Group AG from $45.00 to $47.00. They now have a "sell" rating on the stock.MarketBeat
- Moelis & Company (NYSE: MC) had its "market perform" rating re-affirmed by analysts at Keefe, Bruyette & Woods. They now have a $54.00 price target on the stock, down previously from $58.00.MarketBeat
- Moelis & Company's (MC) Q1 Earnings Top as Revenues Rise Y/Y [Yahoo! Finance]Yahoo! Finance
- Moelis & Company Reports First Quarter 2024 Financial Results; Declares Regular Quarterly Dividend of $0.60 Per Share [Yahoo! Finance]Yahoo! Finance
- Moelis & Company Reports First Quarter 2024 Financial Results; Declares Regular Quarterly Dividend of $0.60 Per ShareBusiness Wire
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