Dubai-based Able Logistics Group, which provides freight forwarding, land transportation and warehousing services, has appointed Shuaa Capital to manage its initial public offering (IPO).
The group is seeking a listing on the Dubai Financial Market.
Ables core business lines are air cargo services, land transport, and warehousing and logistics. It operates offices in Dubai, Abu Dhabi, Sharjah, Saudi Arabia, Oman, Iraq, Afghanistan, Hong Kong and China.
We believe that a public listing will enable us to accelerate our growth plans and achieve our ambition to build a strong brand that is renowned globally, says Ghanem al-Hajiri, executive chairman of Able.
Shuaa Capital is also working on the IPO of Emirates REIT, which is aiming to raise $150m to $172m through a listing on Nasdaq Dubai. The sharia-compliant real estate investment trust expects to list in mid-April.