An Abu Dhabi conglomerate is hoping to spin off the country's largest remittance house, UAE Exchange, into a separate company and sell its shares to the public.
New Medical Centre (NMC) Group plans to hold an initial public offering (IPO) for UAE Exchange within two years, said BR Shetty, the group's chief executive. If UAE Exchange sells shares, it would be the only publicly traded remittance company in the region.
Foreign workers in the UAE remitted an estimated Dh120 billion (US$32.67bn) last year.
No comments:
Post a Comment