State-owned Abu Dhabi Invest AD is planning an initial public offering in the next three to five years, to float at least 25 percent of the company, its chief executive said on Tuesday.
The state investment fund has already developed a fund management arm, raising money from third party investors for investment in the Middle East and Africa, and is looking to reduce its dependence on government shareholdings, Nazem Fawwaz Al Kudsi told Reuters in an interview.
"The IPO would help our shareholders realise some value -- we don't want them all out, we would like them to benefit," Al Kudsi said.
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