RAK Properties, the new company established by the Government of Ras Al Khaimah, has decided to sell 1.1 billion shares to the public through an initial public offering from March 30, The Gulf News reported on Thursday.
The minimum subscription in the issue, which is also open to non-UAE nationals, has been kept at 20,000 shares, and allocation will be on a pro rata basis. All investors will be entitled to receive a minimum of 1,000 shares.
Neanwhile, an amount of Dh200 million will be reserved for small investors.
