19 Dec 2012
(MENAFN) UAE’s conglomerate Al Habtoor Group has shelved what would have been one of the largest initial public offerings (IPOs) in the UAE’s recent history, Arabian Business reported.
Chairman Khalaf Al Habtoor said earlier this year that he was planning to raise up to USD1.6 billion by floating on the NASDAQ Dubai in either March or September next year.
The size of the planned IPO had been expected to boost UAE markets, which have not seen a major listing take place since Drake & Scull International’s move to go public back in 2008.
Al Habtoor also said that Grant Thornton, which had been hired to advise on the IPO, had valued the company at USD6.06 billion.
He added that the valuation excluded four properties in Beirut, and one in Hungary, as well as the group’s shareholding in Habtoor Leighton Group and “several other investments in public shareholding companies”.
The group expects a 16 percent increase in full-2012 year profits to over USD191.8 million.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more