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Tilal Development delays IPO until 2013
- Oman: Tuesday, October 23 - 2012 at 00:59
Omani developer Tilal Development Co has announced it is to launch its initial public offering (IPO) in the second half of 2013, Muscat Daily has reported. Tilal is a special purpose vehicle formed by Al Madina Group to execute real estate projects in the sultanate. "Presently we are looking at the market appetite such as major developments happening in the public sector. The market sentiments are currently not favourable," said Abdul Rahman Barham, CEO of Al Madina Real Estate, the flagship company of the Al Madina Group. The company had received an initial approval from the Capital Market Authority last year to offer a 25% stake in the IPO.
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