By: Ramy Sameeh

Abu Dhabi-Mubasher: Al Sahraa Group, a heavyweight UAE firm in road transportation, is considering the launch of an initial public offering (IPO) in Abu Dhabi Securities Exchange (ADX) before 2020, said chairman Khalifa Al-Mazrouei.

“Al Sahraa has not selected any investment bank to lead or arrange the IPO,” the chairman said on the sidelines of Cityscape Abu Dhabi.

The company has not determined yet how much of its shares will be floated, Al-Mazrouei said.

Al Sahraa’s current assets amount to an average from AED 700 million ($190.58 million) to AED 800 million ($217.81 million), the chairman added.

On another note, the firm is currently executing four new projects that are expected to complete in 2018, with a cost of AED 1 billion ($272.26 million), according to Al-Mazrouei.