Dubai-based Shuaa Capital has confirmed a media report that it plans to IPO two of its portfolio companies.

The investment bank and asset manager said in a filing to the DFM on Wednesday that it is in discussions "with various stock exchanges to list one or more of its subsidiaries through an IPO..."

According the Bloomberg report on Tuesday, Shuaa was considering listing Stanford Marine Group and NCM Investment.

 (Writing by Brinda Darasha; editing by Seban Scaria) 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021