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.
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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