FINANCIAL NEWS

UAE’s Abraaj plans an IPO in 2013

28 Mar 2012

(MENAFN) Abraaj Capital’s CEO, Arif Naqvi, said that in early 2013, the company would launch an initial public offering (IPO), which would provide the firm with the needed finance to expand, reported Gulf News.

Naqvi added that the move comes as Abraaj bought the UK emerging market fund manager Aureos Capital in February, which was a significant step into IPO path.

He also said that since its establishment in 2002, Abraaj raised USD7 billion, on the other hand, the company invested USD125 million in a Moroccan insurance holding firm recently.

It is worth noting that in the first half of the current year, Abraaj will close 2 new private equity deals and aims to seal another 4-5 deals before year end.

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