Air Arabia's AED2.5 billion (US$680 million) IPO opens on March 18.

Middle East | March 15, 2007 | Copyright

Air Arabia, the Middle East's first low-cost carrier, today shared details of its upcoming initial public offering (IPO), scheduled to open on March 18, 2007. Upon completion of the IPO, Air Arabia shares will be listed on the Dubai Financial Market.

Air Arabia is the first airline in the Middle East to go public. The total size of the offering is AED2,566,700,000 consisting of 2,566,700,000 shares, representing 55 per cent of the company's share capital, at an offer price of AED1 per share, in addition to AED 0.02 in offering costs.

The IPO is the largest ...

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