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Wednesday, 26 July 2017

Abu Dhabi Ports Weighs IPO Amid U.A.E. Listing Spree - Bloomberg

Abu Dhabi Ports Weighs IPO Amid U.A.E. Listing Spree - Bloomberg:

"Abu Dhabi Ports Co. is considering an initial public offering, joining a growing list of state entities in the United Arab Emirates seeking to sell shares, according to people familiar with the matter.

The government-run ports operator has met with investment banks in recent weeks and may decide on financial advisers soon, the people said, asking not to be identified as the information is private. The company could raise at least $1 billion in a share sale on the local exchange, one of the people said. No final decisions have been taken, and the company may decide against a listing, they said.

“There are no immediate plans to go public,” Abu Dhabi Ports Chief Executive Officer Mohamed Juma Al Shamisi said Wednesday in response to Bloomberg’s request for comment."



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