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Dubai’s Tecom Draws $9.6 Billion in Orders for $454 Million IPO

  • Tecom prices Dubai IPO at 2.67 dirhams/share, top of range
  • Middle East IPOs have continued at fast clip amid market rout

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Dubai business park operator Tecom Group drew orders worth $9.63 billion for its initial public offering, the latest Middle East listing to attract strong investor demand amid a boom in regional share sales.