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Al Habtoor mulls floating its shares in Dubai

06 Sep 2012

(MENAFN) Dubai-based conglomerate Al Habtoor Group plans to float its shares, as it sees resilient local equity markets, Reuters reported.

Al Habtoor Group is one of the UAE’s biggest family businesses with a portfolio spanning hospitality, construction, education and automotive operations.

The initial public offering (IPO) may my help Middle Eastern equity markets further bounce back from the impact of the global financial crisis, which oppressed investor appetite for regional offerings and forced some companies to postpone or cancel listing plans.

Chairman Khalaf Al Habtoor first unveiled IP plans earlier this year if markets showed signs of recovery. He also said the company was considering some acquisitions in European cities.

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