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Sunday, 29 January 2017

Market permitting, Dubai Investments plans IPOs in 6-9 months -CEO | Reuters

Market permitting, Dubai Investments plans IPOs in 6-9 months -CEO | Reuters:

"Dubai Investments, a diversified Dubai-based investment group, will press ahead with floating shares in subsidiary companies if a market rally extends over the next six to nine months, its chief executive said on Sunday.

Top of the list of candidates for an initial public offering was Emicool, a company that provides cooling systems for buildings by delivering chilled water through pipes. Its IPO has been mooted for several years.

"The market has started improving," Khalid Bin Kalban told reporters. "We need to see what momentum the market has and how the market is going to trend, and need six to nine months to gauge it. If it continues for the next six months, for example, then we can go ahead with our plans for IPOs.""



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