Gulf Capital weighs IPO of subsidiaries in UAE, Saudi capital markets: CEO

Logo of Gulf Capital

Gulf Capital is considering the initial public offering (IPO) of a subsidiary in the local equity markets in Dubai and Abu Dhabi, as well as Saudi Arabia and Egypt in 2022, UAE-based Al-Bayan Business reported, citing Chief Executive Officer (CEO) Karim El-Solh.

The recent activity witnessed in local equity capital markets with the comeback of public offerings in Dubai and Abu Dhabi markets motivates Gulf Capital for studying the listing of its subsidiaries next year.

Moreover, the private equity firm is considering exiting a number of investments next year, El-Solh noted, adding that Gulf Capital’s portfolio includes a wide range of fast-growing companies, especially as their net profit jumped 74% on a year-on-year basis in the nine-month period ended Sept. 30, 2021.