Future Pipe postpones Dubai IPO
- From: Vol 9, Issue 5 (May 2008)
- Category: General
- Region: Middle East
- Country:
- Related Companies: Deutsche Bank and Future Pipe Industries
Conditions on the local market led Future Pipe to postpone its flotation in early May. The Makhzoumis can comfortably wait to cash in the family silver.
Future Pipe Industries announced on 1st May that it had decided to pull its planned initial public offering. The deal, which was originally due to price on 30 April, had been expected to raise up to USD 554.4 million for current owners Rami and Fouad Makhzoumi, through a divestment of up to 35% of the company.
Recent market conditions ...
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