Dubai's Shuaa Capital confirms plans to IPO portfolio companies

The investment bank said it is in talks with stock exchanges

  
Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

REUTERS/Ahmed Jadallah

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) 

brinda.darasha@refinitiv.com 

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