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UAE Developer FAM Holding Plans Abu Dhabi Second Market Listing

FAM Holding, a United Arab Emirates-based property developer with a portfolio of $545 million, plans to list its shares on Abu Dhabi stock exchange’s second market, joining a steady stream of companies tapping the nation’s bourses.

The company has been converted into a private joint-stock firm with a capital base of 50 million dirhams ($14 million), according to a statement. FAM Holding said it expects to receive the final approval “shortly” from the Abu Dhabi Securities Exchange for the listing.