Thursday, Jun 09, 2011
(This item was originally published Wednesday.)
DUBAI (Zawya Dow Jones)--The National Investor and other shareholders in L'azurde Company for Jewelry are planning an initial public offering of a stake in the gold and jewellery manufacturer around the end of 2012 and early 2013, a senior executive at TNI said Wednesday.
"It's difficult to specify on which market but our plan is to IPO L'azurde in late 2012 or early 2013," Yahya Jalil, director of private equity at TNI told Zawya Dow Jones.
"The company is a pretty good brand and has the scale. The price of gold has risen significantly as well," he added.
The National Investors and its consortium partners, Investcorp and Eastgate Capital Group, had in March 2009 acquired a 70% stake in L'azurde which has its headquarters in Riyadh, Saudi Arabia.
-By Mirna Sleiman, Dow Jones Newswires; +9714 446-1698; mirna.sleiman@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
09-06-11 0352GMT
