Education company GEMS shelves multibillion dollar London IPO: sources | Reuters:
The initial public offering (IPO) of Blackstone-backed (BX.N), Middle East-focused education company GEMS has been shelved, three sources familiar with the matter said.
Sources familiar with the deal had said the London listing was delayed after authorities in Dubai unexpectedly decided to freeze tuition fees, meaning the company’s financial forecasts had to be adjusted.
“Bankers knew this wouldn’t go ahead as GEMS was unsure about its expansion plans, given that many students were leaving as families were packing up due to job losses,” a banker in the region said.
No comments:
Post a Comment