Al Habtoor not taking ‘company public in foreseeable future’ | GulfNews.com:
"UAE-based Al Habtoor Group said on Sunday it does not “anticipate taking the company public in the foreseeable future,” even as it has been considering for an Initial Public Offering (IPO) for a number of years.
“We continually review our options with regards to our future strategy. We have been considering an IPO for a number of years, and this situation remains unchanged,” Noura Badawi, a spokeswoman at Al Habtoor said in an emailed statement, adding “we constantly update our records, as part of this ongoing process.”
However, in an interview to Bloomberg TV, Mohammad Al Habtoor, the company’s vice-chairman and chief executive officer, said they are closer to an IPO. The company, which has been trying to list on the primary market since 2000, is planning to make more acquisitions as it prepares to expand its hospitality portfolio.
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