United Arab Emirates conglomerate Al Habtoor Group is considering an initial public offering in Dubai given strengthening local equity markets, the company said in a statement on Wednesday.
A flotation by a family-owned giant like Habtoor would potentially help Middle Eastern equity markets recover from the aftermath of the global financial crisis, which severely dampened investor appetite for regional offerings and forced some companies to shelve listing plans.
"The Al Habtoor Group is considering an initial public offering (IPO) amid further strengthening of the UAE's prominent position in the capital markets and increased inflows from the euro zone," the statement said, following a company meeting with the Dubai International Financial Centre Authority (DIFCA) and Nasdaq Dubai officials.
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