Dubai government considering Emirates IPO - airline president | Reuters
The Dubai government is considering an initial public offering of Emirates airline, the flagship carrier's President Tim Clark said on Monday, as authorities work to boost activity on the local stock market.
The emirate's government is planning to list 10 state-backed companies on its stock exchange and set up a 2 billion dirham ($545 million) market maker fund to encourage trading activity.
"Yes, there has been talk about it. Yes, there has been, perhaps a little bit more flesh on the whole subject than there has been in the past," Clark said in an interview for the upcoming Reuters Next conference when asked if a listing was a possibility.
"I'm waiting instructions as to how this is going to affect the Emirates Group. What the government of Dubai decides to do...is up to them, I would basically do as I am bid."
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