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Al Habtoor eyes IPO
- United Arab Emirates: Saturday, September 08 - 2007 at 09:19
Dubai's Al Habtoor Group could sell shares in some of its companies next year in an initial public offering (IPO), according to Chairman Khalaf Al Habtoor and cited by Reuters quoting Al Arabiya TV. It is thought Al Habtoor will take advantage of a change in Dubai's investment laws which now allow families to hold as much as 70% of their businesses after an IPO, when previously it was only 45%.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, September 08 - 2007 at 09:19 UAE local time (GMT+4)
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