Paris Gallery plans IPO
- United Arab Emirates: Sunday, September 16 - 2012 at 11:31
Dubai-based retail group Paris Gallery is planning an initial public offering it said would provide a "safety net" for the family-owned business and help it expand beyond the Gulf, Reuters has reported. The firm, which had 2011 turnover of about Dhs1bn ($272m), has held talks with the Dubai Financial Market and sister bourse Nasdaq Dubai about a potential listing, the group's chief executive Mohammad Al Fahim told the news service, declining to comment on the likely value of the IPO or what size stake the firm might sell.
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