Dubai-based company Emicool (Emirates District Cooling) has unveiled plans for an initial public offering (IPO).
The company plans to list on Dubai Financial Market (DFM) by mid-2011. It intends to offer 100 per cent of the company in shares.
Speaking to MEED at the Middle East District Cooling conference on 27 September in Abu Dhabi, Emicool general manager Adib Moubadder said that the company is in discussions with the UK’s PricewaterhouseCoopers and Sure Capital to arrange the listing.
Emicool is a district cooling service provider involved in the supply of chilled water to building developers and end users. It is a joint venture between local companies M’sharie and Union Properties.
Middle East District Cooling 2010 conference