Thursday, May 26, 2011
DOHA (Zawya Dow Jones)--Qatari taxi and bus company Mowasalat is in early talks with banks about floating its shares on the Doha bourse early next year in what would be the first initial public offering, or IPO, in the Gulf Arab state since developer Mazaya Qatar went public early last year, two people familiar with the matter said Thursday.
"A lot of banks are looking at it," said one person familiar with the transport group's plans.
Another person with knowledge of the situation said banks were currently bidding to advise the company on its planned float and the tendering process closes at the end of next month.
No one at Mowasalat, the largest taxi company in the Persian-Gulf state, which also runs limousine, school and public bus services, was immediately available to comment.
-By Alex Delmar-Morgan, Dow Jones Newswires; +974 6659 9818; alex.delmar-morgan@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
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26-05-11 0848GMT
