Dubai IPO: Private School Operator Taaleem Picks Banks for Listing - Bloomberg
Private school operator Taaleem has picked EFG-Hermes and Emirates NBD Bank to lead a planned Dubai initial public offering, according to people with knowledge of the matter.
The listing could come as soon as the fourth quarter this year, the people said, asking not to be identified as the information isn’t public. Preparations for the IPO are ongoing and details such as timing could still change, they said.
Representatives for Emirates NBD and EFG-Hermes declined to comment. There was no immediate response to a request for comment sent via Taaleem’s company website.
Dubai has kickstarted an ambitious program to inject some life into its stock market and boost trading volumes by listing 10 state-owned companies. The $6.1 billion IPO of utility Dubai Electricity & Water Authority earlier this month was the first such share sale, and its success has fueled expectations that more companies will seek to take advantage of the momentum.
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