Emirates considering IPO
Dubai state-owned Emirates airline is considering selling shares in an initial public offering (IPO) that could value the company at up to $20 billion, UK daily The Times reported on Monday.
DP World, the world's fourth-largest container port operator, will be the first Dubai government-owned company to sell shares in an IPO planned for next month.
"More and more Dubai companies will see that this is important in the near future," Emirates Chairman Ahmed bin Saaed Al-Maktoum is quoted as saying in The Times.
"The DP World IPO is a very positive thing. I think for sure Emirates will also, in the future, do something like that," he said, according to The Times.
An Emirates spokeswoman confirmed Sheikh Ahmed's comments but said he made no mention of the value of the company. The Times did not say how it calculated the figure.
"Eventually, as expressed by our chairman during the interview, any decision for an IPO rests with our owners, the government of Dubai," the spokeswoman said in a written statement.
DP World plans to sell about 20% of the company. It aims to raise about $4 billion, valuing the company at about $20 billion, people familiar with the matter have told Reuters. Source
DP World, the world's fourth-largest container port operator, will be the first Dubai government-owned company to sell shares in an IPO planned for next month.
"More and more Dubai companies will see that this is important in the near future," Emirates Chairman Ahmed bin Saaed Al-Maktoum is quoted as saying in The Times.
"The DP World IPO is a very positive thing. I think for sure Emirates will also, in the future, do something like that," he said, according to The Times.
An Emirates spokeswoman confirmed Sheikh Ahmed's comments but said he made no mention of the value of the company. The Times did not say how it calculated the figure.
"Eventually, as expressed by our chairman during the interview, any decision for an IPO rests with our owners, the government of Dubai," the spokeswoman said in a written statement.
DP World plans to sell about 20% of the company. It aims to raise about $4 billion, valuing the company at about $20 billion, people familiar with the matter have told Reuters. Source
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