Abu Dhabi’s Gulf Marine Services seeks to raise $100 million from London IPO | The National

Abu Dhabi’s Gulf Marine Services seeks to raise $100 million from London IPO | The National:



"Abu Dhabi’s Gulf Marine Services (GMS) plans to raise more than US$100 million via a share float on the London Stock Exchange.



The company, majority owned by regional private equity firm Gulf Capital, expects to generate $100m from the issue of new shares, it said yesterday.



In addition, four of the company’s shareholders – including two Gulf Capital investment vehicles – are each expected to sell an undisclosed proportion of their shareholdings as part of the offer.



The float, which is expected to be completed before the end of next month, will value the company in excess of $1 billion, according to a source close to the process."



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