Bahrain's Mumtalakat eyes possible IPO for McLaren in next few years | Reuters

Bahrain's Mumtalakat eyes possible IPO for McLaren in next few years | Reuters

Bahrain's sovereign wealth fund, Mumtalakat, which has a 60% stake in McLaren, expects the British racing team and supercar maker to go public in two to three years, its chief executive told Reuters on Tuesday.

"The racing team has benefited from the growth and viewership so that side of the business has been doing fantastically well," Mumtalakat's chief executive Khalid Al Rumaihi said in an interview.

"The automotive side clearly has challenges, but we believe in the company and we think this will be a prime candidate, obviously not at the moment, but in 2 to 3 years for an IPO (initial public offering)," he said.

McLaren did not immediately respond to a request for comment when contacted by Reuters on Tuesday.

Mumtalakat, which has just north of $18 billion in assets under management, released its standalone annual results on Tuesday, which showed it swung to profit in 2021 from a loss in 2020.