Emaar MGF Withdraws IPO
Friday, February 08, 2008
Our analyst in Mumbai is informing that the Greedy management of EMAAR MGF Real Estate has withdrawn the IPO.We were the only one to BOLDLY put an AVOID rating on the IPO. However, things changed this late afternoon as QIBs and FIIs withdrew their bids and the subscription fell from 0.83% to just 0.43%.
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