Damas International is planning an all out expansion through opening new stores, acquisitions, increasing vertical integration through investments in manufacturing operations. To support its plans, it recently raised $270.6 million in an IPO. Each share was valued at $1.00.
Damas will enlist its shares on the Dubai International Financial Exchange (DIFX), as tentatively identified on July 8, 2008. Following this, the company is expected to be valued at $968.6 million. It will also employ funds from the IPO to restructure a portion of the company’s existing debt as well as for other corporate purposes.
The Damas group has operations in 18 countries with a store presence of 438 across the globe.
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