Air Arabia's AED2.57 billion ($698.9 million) IPO was scheduled to launch yesterday as 55% of the airline's share capital equal to 2.57 billion shares was put up for sale. The shares will be listed on the Dubai Financial Market upon completion of the 10-day IPO, which the carrier said is the largest in United Arab Emirates history. The Sharjah-based airline, which last week reported a more than threefold growth in 2006 net profit to AED101 million (ATWOnline, March 15), is the first Middle ...

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