Arab Today, arab today dubai’s al habtoor seeks to raise 16 bln in 2013 ipo
Last Updated : GMT 11:53:10
Arab Today, arab today
Arab Today, arab today

Dubai’s Al Habtoor seeks to raise $1.6 bln in 2013 IPO

Arab Today, arab today

Arab Today, arab today Dubai’s Al Habtoor seeks to raise $1.6 bln in 2013 IPO

Dubai - Agencies

Al Habtoor Group, a family-owned Dubai conglomerate, is looking to raise as much as $1.6 billion in an initial public offering on the Nasdaq Dubai bourse next year, it said on Sunday. In an exclusive interview with Al Arabiya, Khalaf al-Habtoor, chairman of the group, predicted that the group will reach 850 million dirhams ($231 million) in profit this year. The company, whose portfolio spans hospitality, construction, education and automotives, plans to issue new shares worth 25 percent of its capital as part of the listing. It has hired Grant Thornton as financial adviser for the planned IPO, al-Habtoor said. The Dubai-based company is one of the UAE’s biggest family businesses and a potential stock market float from the group is seen as a boost to local equity markets which has struggled to attract new companies post the global financial crisis. Al Habtoor, which also has a 27.5 percent stake in a joint-venture construction firm with Australia\'s Leighton Group, said they would issue 25 percent additional shares that would help raise between 5 billion to 6 billion dirhams ($1.6 billion). Its venture with Leighton will not be part of the IPO as the company is a minority shareholder in the partnership. Al Habtoor is also considering simultaneously listing in London and Saudi Arabia, the chairman said. The family firm plans to use proceeds from the listing to expand its businesses and acquire other properties globally. Earlier this year, Al Habtoor unveiled plans to develop a new $1.3 billion hotel and entertainment complex in Dubai, despite a property collapse that has seen prices plunge from a 2008 peak. The group expects revenues to rise 15 percent this year in the wake of 10 percent growth between 2010 and 2011.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai’s al habtoor seeks to raise 16 bln in 2013 ipo Arab Today, arab today dubai’s al habtoor seeks to raise 16 bln in 2013 ipo

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday