Emaar says IPO for hospitality unit remains on hold | gulfbusiness.com
Dubai-based Emaar Properties, which announced its intention to list Emaar Misr, its Egyptian subsidiary on Wednesday, has confirmed that an IPO for its hospitality unit remains on hold. In a statement, the company said: “The timing of the IPO [for Emaar Hospitality Group] will be dependent on the market conditions. We are watching the markets closely and will take a decision to list at the appropriate time.” Emaar launched an $1.6 billion IPO of its malls and retail subsidiary, EMG, on the Dubai Financial Market (DFM) in September last year, in what was the GCC’s biggest listing since the financial crisis in 2008.
