Investment bank Shuaa Capital SHUA.DU expects to swing to a profit in the fourth quarter and has mandates for five initial public offerings (IPOs) in the United Arab Emirates, its chief executive said on Tuesday.
Sameer al-Ansari told the Reuters Middle East Investment Summit in Dubai the mandates for IPOs were in the healthcare, consumer and food product sectors.
The IPOs could be concluded in 2011, while a planned 1 billion dirham ($272.3 million) IPO for an Abu Dhabi-based infrastructure firm may instead be a private placement, he said."
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