Family-owned YBA Kanoo gets itself IPO-ready | ZAWYA MENA Edition

Family-owned YBA Kanoo gets itself IPO-ready | ZAWYA MENA Edition:

Family-owned business group Yusuf Bin Ahmed Kanoo (YBA Kanoo) has announced the launch of a new group structure which it said would prepare the firm “for future growth and an IPO in 3 to 5 years”.

The company, which is one of the biggest family-owned businesses in the Gulf, with operations across Bahrain, Oman, Saudi Arabia and the United Arab Emirates, has created seven executive committees to oversee company business lines, each of which will be overseen by a family member, and appointed Jeffrey Singer - a former CEO of Dubai International Financial Center and Nasdaq Dubai - as group CEO. 


The seven divisions overseen by family members are: Kanoo Travel, Kanoo Industry & Energy, Kanoo Shipping & Logistics, Kanoo Real Estate, Kanoo Capital and Kanoo Innovations.