Abu Dhabi – Mubasher: Dubai Cable Company (Ducab) does not plan to launch an initial public offering (IPO) on either of the UAE’s stock markets, chairman Jamal Salem Al Dhaheri told Al-Khaleej newspaper.

The cable manufacturing company will not perform any acquisitions inside or outside the country in the current period, Al Dhaheri noted.

The Emirati firm recently provided the Barakah nuclear power plant and a nuclear project in South Korea with the required supplies, he added.

The chairman further revealed that Ducab was manufacturing for the first time new special cables for wind energy projects, which have been supplied to a project in the UK.