Five Holdings Ltd, the operator of the luxury brand FIVE plans to have an IPO in Dubai, with eyes on a London listing too, according to its chairman.
FIVE Holdings Chairman and founder Kabir Mulchandani told Bloomberg TV that a Dubai IPO in 2025 was part of its long-term plan, with a London option also being considered.
The company, which was founded as SKAI Holdings in 2011 but rebranded to FIVE Holdings in 2017, would be ‘looking at’ an IPO in 2025, Mulchandani said.
As a ‘Made in Dubai’ brand, the firm will target a primary listing in the emirate, he said, with London listing considered, but Dubai was the likely target due to the growth in the emirate’s capital markets.
The company also operates FIVE Zurich as well as FIVE Jumeirah Village. In FIVE Palm Jumeirah, Dubai, partygoers have the option to drive a super car into the nightclub for a fee of AED 10,000 ($2,723).
Earlier this year, the hotel group started offering private jet parties at a cost of up to $14,000 per hour.
Today, Nasdaq Dubai announced the debut listing of the green bond issued by the company valued at $350 million.
(Writing by Imogen Lillywhite; editing by Seban Scaria)