Dubai Digital Investments Seeks IPO to Raise Cash for Tech Deals - Bloomberg
A new platform founded by entrepreneur Faisal Belhoul is planning an initial public offering in Dubai by the end of this year to invest in technology firms.
Dubai Digital Investment Co. aims to raise 1 billion dirhams ($272 million) from the listing, Belhoul told Bloomberg in an interview. “We’ve been granted permission by the local authorities to launch a greenfield investment company that focuses on the technology sector,” he said.
Belhoul, vice-chairman of the Dubai Chamber of Commerce & Industry, was previously involved in the IPO of Al Noor Hospitals Group in London in 2013 and the share sale of another healthcare and education firm in Dubai a year later.
With his latest venture, he plans to invest in regional and global technology opportunities alongside VC firms and founders. That also fits in with Dubai’s ambitions to become a major technology hub.
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