Abu Dhabi: Regional private equity firm Gulf Capital plans to list its shares on the Abu Dhabi Securities Market (ADSM) by the middle of 2009, its chief executive officer said on Monday.
"It's mandatory for a private joint stock company to have an average 10 per cent return on equity in the first two years of operations preceding an initial public offering," Karim Al Solh told Gulf News.
Immediate measures
"We will have to meet this ADSM requirement before we file our prospectus for listing. We should be able to meet the requirement before the middle of 2009," Al Solh said.
The source of Gulf Capital's funding is from pension funds, banks, insurance companies, family businesses and from an array of leading businessmen across the Gulf region.
Oil and gas, water, construction, telecommunications, education, financial services, logistics and healthcare are among the areas the company has identified for investment for its business growth. Abu Dhabi-based Gulf Capital's current assets include a controlling 60 per cent stake in Sharjah-based Metito, a water desalination and water treatment company. Metito has operations in 20 countries.
Gulf Capital was established in May 2006 with a capital base of Dh1.225 million from 300 shareholders in the Gulf.
By Himendra Mohan Kumar, Staff Reporter
Published: January 01, 2008, 00:37
Nuk ka komente:
Posto një koment