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Thursday, 2 March 2017

Middle East's Largest Aluminum Producer Is Considering an IPO - Bloomberg

Middle East's Largest Aluminum Producer Is Considering an IPO - Bloomberg:

"Emirates Global Aluminium, the largest aluminum producer in the Middle East, is preparing to sell shares amid a comeback in commodities prices, according to people familiar with the matter. The United Arab Emirates-based company is seeking advisers for a potential initial public offering on the local stock exchange as early as this year, the people said, asking not to be named as the details aren’t public. The UAE agreed to merge its two flagship state aluminum firms in 2013 to create EGA, with an enterprise value of about $15 billion. A representative for Emirates Global Aluminium, which is jointly owned by Abu Dhabi’s sovereign fund Mubadala Investment Co. and the Investment Corp. of Dubai, declined to comment. No final decisions have been made, and the firm may decide to delay an IPO or not to list, the people said."



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