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NPC plans Dubai stock exchange listing
- United Arab Emirates: Tuesday, May 19 - 2009 at 12:04
Abu Dhabi construction firm National Projects and Construction (NPC) is planning to float next year on the Dubai Finance Market stock exchange. The company, which was established in 2003, said in preparation, it has boosted its Dhs5bn order book with international contracts, as well as expanding through the acquisition of local building firms. To qualify for listing, contractors need to have a substantial workforce, a turnover of at least Dhs1bn and international exposure. "We're very close to reaching that target this year in terms of turnover, and hopefully by the end of the year we'll have at least one international project on the go," said Paul Majoor, General Manager at NPC. "So the target could be achieved by 2010, if the market is right." The company, which is building Nation Towers in Abu Dhabi in partnership with Arabtec Construction, is eyeing deals in Qatar, Libya and Morocco. (Mac Capital)
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StaffTuesday, May 19 - 2009 at 12:04 UAE local time (GMT+4)
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