Abu Dhabi group looks west for IPO

20 August 2015

Investment firm hopes to raise more than $1bn

  • KBBO Group is planning to list two subsidiaries on the New York or London stock exchanges
  • It will merge the local Centurion Investment and Infinite Investments

Abu Dhabi investment firm KBBO Group is planning to list two subsidiaries on the New York or London stock exchanges, according to press reports.

It will merge the local Centurion Investment and Infinite Investments, a subsidiary of Abu Dhabi Investment Authority, before the initial public offering (IPO) in 2016. KBBO is expected to offer a 40 per cent stake.

It hopes to raise as much as $1.2bn in the IPO, according to Bloomberg.

The new capital would fund investment opportunities.

KBBO invests in real estate, oil and gas, healthcare, facilities management and information technology.

A joint venture between KBBO and the US’ Guggenheim Partners is expected to advise on the IPO.

The UAE’s IPO pipeline has been slow in 2015 due to oil price volatility. KBBO’s decision to look to larger markets in the West suggests investor appetite remains weak in its markets.

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