Trump Aluminum Tariffs Said to Prompt U.A.E.'s EGA to Delay IPO - Bloomberg: A planned share sale in the United Arab Emirates may be the latest casualty of President Donald Trump’s trade policies.
U.S. tariffs on aluminum imports have prompted Emirates Global Aluminium, which produces about 4 percent of the metal globally, to delay an initial public offering, according to people with knowledge of the matter who spoke on condition of anonymity. The company confirmed the decision but attributed it to unfavorable market conditions.
Khaldoon Al Mubarak, the chief executive officer of Abu Dhabi’s sovereign fund Mubadala Investment Co., said in May that EGA could go public in the second half of the year or early 2019. EGA, owned equally by Mubadala and the Investment Corp. of Dubai, exports about 90 percent of its output and considers the U.S. a “key market.”
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