M’Sharie listing expected no later than March 2011
Dubai Investments is in negotiations with the Dubai Financial Market and Nasdaq Dubai to list its private equity arm, M’Sharie, within a year, according to the company’s its chief executive officer (CEO).
Khalid bin Kalban, CEO of Dubai Investments, hopes it will list no later than March 2011, he said on 18 March.
M’Sharie focuses on private equity investments in medium and large-scale establishments in the Middle East.
The company is currently awaiting final approval to develop and manage an investment park in Fujairah, the first phase of which will cost AED100m ($27.23m), Kalban said.
Meanwhile, it expects total investments in its multi-use complex Dubai Investment Park to be between AED75-80m on completion in 2012.
As the largest investment company listed on the DFM, Dubai Investments reported net profit of AED963m in 2009. Net profit for the fourth quarter of 2009 was AED141m, as against a loss of AED 87m in the corresponding period of 2008.
Total assets as at 31st December 2009 stood at AED15.14bn.