"Gulf Marine Services, the Abu Dhabi oil equipment operator, is targeting a foreign listing next year that could value the company at up to US$500 million.
The region's biggest owner of jack-up barges - rigs that can move on their own and service either an oilfield or a wind turbine - is meeting with investment banks and aims to make a final decision this week, said Duncan Anderson,the chief executive. GMS is 79 per cent owned by Gulf Capital, the local private equity firm.
"We're choosing, but we'll probably go that way to get a listing because we've got too big for our peers for a trade sale," he said in an interview at the company's headquarters in Mussafah. "The scale we've got to very much lends itself to a listing and we're looking at stock markets.""
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