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Azizi Developments rules out UAE IPO at present

Azizi Developments rules out UAE IPO at present
(Photo Credit: Arabianeye-Reuters)

Dubai – Mubasher: It will be hard to launch an initial public offering (IPO) for Azizi Developments  in the UAE at the present as the company is still considered a family business, AlBayan newspaper reported on Monday, citing the company's CEO.

Farhad Azizi did not rule out a future IPO and listing, in light of the huge growth it is seeing.

In the event that the company decides to be listed, it will choose the Dubai Financial Market (DFM), added Azizi, according to the newspaper.

The DFM is currently awaiting the listing of Orient UNB Takaful, while Kuwait’s National International Holding listed its stock mid-November 2016.