DUBAI Jan 5 Massar Solutions, a United Arab
Emirates vehicle rental firm, said on Monday it plans to list 40
percent of its shares on Abu Dhabi's stock market.
The firm will seek to sell 240 million ordinary shares at
2.4 dirhams ($0.65) each between January 11 and January 25, it
said in a statement. This would value the initial public offer
(IPO) at 576 million dirhams ($156.82 million).
Shares in the IPO will come equally from existing
shareholders Invest AD and Abu Dhabi National Energy Co
(TAQA), with Macquarie Capital Middle East and
National Bank of Abu Dhabi acting as joint financial advisers,
the statement added.
($1 = 3.6730 UAE dirhams)
(Reporting by David French; Editing by Matt Smith)