Future Pipe Group, the pipe manufacturer locally known through Gulf Eternit Industries LLC and Future Pipe Industries LLC, said it plans to raise Dh400 million either through a public offering or private placement.
The company said it has mandated Dubai-based Shuaa Capital to assist it in raising the funds.
According to a statement, the fund raising exercise will finance the company's future regional and international expansion plans.
"The company is considering going to the Dubai Financial Market (DFM) or Dubai International Financial Exchange (DIFX) for the listing of its shares," the statement added.
Fouad Makhzoumi, chairman of Future Pipe Group, said: "We expect our markets to experience healthy growth over the coming few years as the demand for both water and energy increases, thus resulting in increased spending on infrastructure in our core markets in the GCC."
He said the company has concrete plans not only to maintain but to promote its current position as one of the top global manufacturers of composite pipe systems, by building on its successful track record, and its leading market share over the last 25 years, especially in the Gulf region.
Gulf News
