Gulf Capital shelves IPO plans to focus on acquisitions | The National

Gulf Capital shelves IPO plans to focus on acquisitions | The National:



"Gulf Capital has postponed plans to go public because of the “soft” equity markets but will plough ahead with as many as six acquisitions this year, the company’s chief executive said.



The Abu Dhabi-based private equity firm has raised Dh850 million of debt to help fund growth. It announced last month its tapping of the syndicated revolving facility arranged by two banks, Abu Dhabi Commercial Bank and FGB.



“We realised with liquidity being plenty, and banks lending at very attractive rates, it was much more optimal for us to fund ourselves using debt rather than the equity market,” said Karim El Solh on the sidelines of a conference in Abu Dhabi."



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