Dubai Bugatti Distributor Said to Hire Banks for IPO - Bloomberg:
"Al Habtoor Group LLC, the Dubai distributor of Bentley and Bugatti autos, hired National Bank of Abu Dhabi PJSC and Emirates NBD PJSC (EMIRATES) to manage an initial public offering, two people with knowledge of the matter said.
The company may raise about $2.5 billion from selling a 30 percent stake in the first quarter, the people said, asking not to be identified because the information is private. The listing is planned for the Dubai Financial Market (DFMGI), they said.
Companies in Dubai are considering share sales after the exchange’s benchmark index jumped 34 percent this year, the world’s third best-performing among 93 major gauges tracked by Bloomberg. Healthcare and education group Amanat Holdings Group PJSC (1074791D) this month completed an IPO that was 10-times oversubscribed, while Emaar Malls Group PJSC received $43 billion in bids for its $1.6 billion offering in September."
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