Dubal IPO

[sharewadi]

Dubai Aluminium (DUBAL) is mentioned a couple of times as being a candidate for an Initial Public Offering (IPO), but I haven't seen anything confirming that it is a definite go.

There was this a couple of years ago when the DIFX launched, and they said, rather optimistically in retrospect, that they expected to list 10-15 IPOs in their first year of operation...

AME Info 20 September 2005:

'The DIFX is unusual in that we started with the regulator first, before the exchange started, unlike most global exchanges which evolved the other way around,' Chief Executive Officer Steffen Schubert told the Australian Business Group in the Gulf lunch this week. 'At first we also started off with the idea of being a vehicle for the privatization of Dubal and Emirates but with the high oil price it became clear that that was less of a priority. So we are focused on serving larger companies which want to raise at least $50 million by listing on the DIFX.'

And just yesterday there was another comment. But I haven't found anything between 2005 and 2008.

Emirates Business 09 January 2008:

Both Yasin and Moustafa agree that the first quarter of 2008 could see some highly anticipated IPOs being launched. Emirates airline, Dubal and Dubai International Financial Exchange (DIFX) are among the eagerly awaited IPOs from Dubai this year. Yasin feels Emirates Post and Al Qudra Holding are also among the eagerly awaited attractions for regional and foreign investors.

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[ravibaldev]

On DUBAL I would say I had a chat a while back with a senior manager who had access apparently to the BOD. In his reckoning, DUBAL did not have privatisation plans. IPO was definitely out of the picture.

I thought DUBAL raised at least US$ 1 billion through Citigroup a while back - this was to finance the EMAL smelter in Abu Dhabi.

But if DUBAL go come out with the IPO I believe its something every long term investor should buy.

Thanks
Ravi