Dubai Investments plans IPO in six to nine months

30/01/2017 11:47 AST

Diversified Dubai-based investment group, Dubai Investments, has revived its IPO plans and says it will float shares in subsidiary companies, including potentially Emicool, if the market rally extends over the next six to nine months, according to its Managing Director & CEO Khalid Bin Kalban.

Emicool's IPO was first suggested several years ago. Investment bank Al Mal Capital, which is 60 per cent owned by Dubai Investments, was working as a financial adviser on the listing. "The market has started improving," Khalid Bin Kalban told reporters. "We need to see what momentum the market has and how the market is going to trend, and need six to nine months to gauge it. If it continues for the next six months, then we can go ahead with our plans for IPOs."

Dubai Investments was considering listing around 30 per cent of Emicool, which it owns in a joint venture with Union Properties.


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