Dubai – Mubasher: Shuaa Capital is holding discussions with various stock exchanges to list one or more of its subsidiaries through an initial public offering (IPO).

Shuaa has commented on the news reporting that the company seeks to launch an IPO for two of its portfolio companies in the Dubai Financial Market (DFM), according to a bourse filing on Wednesday.

The company announced that the discussions are still in the very early stages.

Sources previously told Bloomberg that the company is holding talks with the DFM to list Stanford Marine Group and NCM Investment, which are valued at about AED 2 billion ($545 million), combined.