Dubai Drydocks IPO?

[sharewadi]

So, before Reuters jump in and throw out a headline "Dubai Drydocks may go public says CEO", or similar, I'll add a new topic here. The CEO was asked by Emirates Business about funding...

Emirates Business 03 January 2008:

Where do you get the funds? Are you planning an initial public offering? -- About 90 per cent of the money is borrowed from banks and the rest is equity. An initial public offering might happen but I am not in a position to say when since the decision has to be made by our holding company, Dubai World.

Actually, I'm surprised Emirates Business didn't have the IPO comment as a headline, seems to be the usual thing whenever a CEO or Chairman says anything other than "NO!" in answer to the question about going public.

See also rest of Dubai Drydocks interview with CEO.

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[sharewadi]

This paragraph was in a Reuters report about Dubai Drydock buying shipyards in Asia to increase capacity. Looks like an IPO that won't be happening in a hurry, if at all.

Reuters 10 January 2008:

Dubai Ports World raised almost $5 billion in November in Middle East's biggest IPO. But Taylor said there were no immediate plans for listing Drydocks World. "It is always a possibility, but I suspect if that were to happen it would be a couple of years down the road from now."

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