By: Mahmoud Gamal
Dubai – Mubasher: The MBF group holdings is planning to launch an initial public offering (IPO) on one of the UAE stock markets, the Emirati group’s chairman Mohammed bin Faisal Al Qasimi told Mubasher.
The Union National Bank (UNB) will arrange the planned IPO, he added.
Following the offering, MBF will be transferred to a public joint-stock company, Al Qasimi noted, adding that the group had a finical portfolio used to equity investments.
The MBF Group’s authorised capital is AED 5 billion ($1.4 billion), while issued and paid capital exceeds AED 2.751 billion.
Translated by: Muhammad Khalid