Dubai Investments may soon issue IPOs if the market shows upward trend

Dubai, UAE: According to a report in the Reuters’ website, dated January 29, 2017, Dubai Investments, could likely go ahead with floating shares in subsidiary companies if the market exhibits a positive trend in the coming months.

Khalid Bin Kalban, the CEO of Dubai Investments, was quoted by the report as saying: “The market has started improving. We need to see what momentum the market has and how the market is going to trend, and need six to nine months to gauge it. If it continues for the next six months, for example, then we can go ahead with our plans for IPOs.”

Emicool, whose IPO has been suggested for many years now, is likely to be the first among the companies to be available for initial public offering, said the Reuters report. The report further added that “Dubai Investments was considering listing around 30 percent of Emicool, which it owns in a joint venture with Union Properties.”