Future Pipe plans $550m Dubai IPO
- From: Vol 9, Issue 4 (April 2008)
- Category: General
- Region: Middle East
- Country:
- Related Companies: Future Pipe Industries
The Makhzoumi family is looking to cash in on the growth of the fibreglass pipe market by floating up to 35% of Future Pipe Industries. A DIFX listing should encourage international demand.
Future Pipe Industries announced on 30 March that it is to undertake an initial public offering for up to 35% of its shares on the DIFX (Dubai International Financial Exchange). Bookrunner Deutsche Bank is expected to price the deal on 30 April within a range of $5.00-6.60 per share, valuing the company at between $1.2 billion and ...
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