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The local Al-Qudra Holding is planning to stage an initial public offering (IPO) in early 2007. ‘We have all it takes, and we will launch an IPO early next year,’ Al-Qudra chairman Salah Salem bin Omair al-Shamsi told MEED on 13 June. ‘Foreign investors can already own up to 49 per cent of the company through over the counter trade at National Bank of Abu Dhabi.’