Arab Finance: EFG Holding has wrapped up an advisory on the $315 million initial public offering (IPO) of Dubai Taxi Company (DTC) on the Dubai Financial Market (DFM), as per an emailed press release on December 7^th.

Under the IPO, the firm sold 624.750 million existing shares at AED 1.85 ($0.50) per share for a total of 24.99% of its total issued share capital, implying a market capitalization of AED 4.6 billion ($1.26 billion).

Local, regional, and foreign investors showed strong demand for shares in the IPO, with a total book covered of about 130x for AED 150 billion ($41 billion).

EFG Holding served as a joint bookrunner on the transaction.

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