Sponsored by   Mudabala
 
 
BETA
Loading Loading ...
Wed, 10 Feb 2010 | 04:55 GMT
Wed, Feb 10, 2010, 04:55 GMT
 

Perla Group plans IPO to raise $33m

Emirates Business 24/7
 
 
Emirates Business 24-7, 19 November 2009

Dubai-based Perla Group InternationalPerla Group InternationalLoading..., which is scheduled to set up an assembly unit for petrol-run helicopters in the UAE, is planning to go public in February 2010 to raise $33 million (Dh121m).

Initially the company will produce two-seater AK1-3 helicopters.

Charles S D'Alberto, Chief Executive Officer of Perla Group InternationalPerla Group InternationalLoading..., told Emirates Business: "We are exploring possibilities to set up our unit in Sharjah, Dubai and Abu Dhabi. We are in discussions with Dubai Aviation City and most probably I guess it will be in Dubai. We are planning to invest about $10m in the new assembly unit. Our helicopter is priced very attractively. We are targeting more than $20m revenues in next year,"

Perla Group recently acquired DB Aerocopter, an Ukraine-based AK1-3 helicopter maker and will source all the components manufactured from the acquired company, while engine is supplied by a Japanese firm.

"The assembly unit will have an annual manufacturing capacity of 500."

"We will tap the market in February for raising $33m. We have raised $3m in pre-IPO deals and got committed interest for $30m," said D'Alberto.

Perla is planning to list shares on Nasdaq Dubai.

"We will list on Nasdaq Dubai in the fourth quarter next year, but before that it will be on Australian Stock Exchange in February. The reason for choosing ASX is we had two IPOs on the Australian exchange," he said.

By Sreenivasa Rao Dasari

© Emirates Business 24/7 2009

 
x DISCLAIMER

Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.

Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
 
 
Access to this article is subject to specific terms and conditions. Read Disclaimer.
 
 
 
Community Comments (0) - Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
 
 
 
Loading ...
 
Report Abuse
Loading ...
 
 
Loading ...
Zawya Comment Policy:
 
  1. Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
    1.1   Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
    1.2   Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
    1.3   Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
    1.4   Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
    1.5   Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
    1.6   Give the impression that they represent Zawya.
    1.7   Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.
  2. The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
  3. Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
  4. By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
 
 
 
 
 
Community Buzz

Stories

Companies

Most viewed companies by Community in the last 24 hrs
Company Name Country Industry
Consolidated Contractors Company Overseas Construction and Design
Saudi Binladin Group Saudi Arabia Construction and Design
Zuhair Fayez Partnership Consultants Saudi Arabia Construction and Design
Saudi Electricity Company Saudi Arabia Electric Utilities
Barwa Real Estate Company Qatar Landlords and Developers
Saudi Telecom Saudi Arabia Telecommunications Services
Qatar General Electricity and Water Corporation Qatar Electric Utilities
Abu Dhabi Oil Refining Company UAE Oil
Ministry of Health - Kuwait Kuwait Ministries and Municipalities
Mubadala Development Company UAE Investment Firms and Funds
 

Projects

Blogs

 
 

 
 
 
 
 

Site is optimised for viewing at 1024 x 768 with Internet Explorer v6 and Firefox v3.0 and above.
Copyright © 2010 ABQ Zawya Ltd. All rights reserved. Please read our Membership Agreement