Gulf Merchant Group IPO
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Gulf Merchant Group IPO

 
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Gulf Merchant Group IPO

Posted on Mon 03 Sep 2007 08:34 by sharewadi 		Reply with quote
Gulf Merchant Group (GMG), a Dubai based investment bank announced on 02 Sep 2007 that it sold a 40.8% stake to Abu Dhabi Commercial Bank (ADCB) for AED 187m (or ADCB announced that it bought a stake in GMG).

ADCB buys a 41% stake in Gulf Merchant Group - PR 02 Sep 07

In an interview with Emirates Today, Nabil Maaloul, the CEO, said GMG would launch an Initial Public Offering (IPO) in two years (2009?), and list on an international exchange. That could mean DIFX as GMG is based in the Dubai International Financial Center (DIFC).

Emirates Today 03 Sep 2007 wrote:
"We will go public in another two years times and will be listed on an international exchange," he added.




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