Traders have warned that the future growth of the UAE's stock markets could be stunted as family firms shelve plans to head to market.
Al Habtoor Group, the family-owned conglomerate, which operates hotels in Dubai, several automobile franchises and a joint venture with Australia's Leighton Group, said on Tuesday that it was planning to delay a long-anticipated listing.
Al Habtoor Group's statement followed comments from Al Ghurair Investment suggesting that the management of the conglomerate would prefer to avoid an initial public offering if possible.
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