Dubai Investments is considering initial public offerings for several of its companies, including a 30 per cent stake in Emirates District Cooling.
The state-backed firm plans to raise about US$300 million through from the share sale next year and is waiting for the right market conditions before proceeding, chief executive Khalid bin Kalban told reporters in Dubai on Saturday.
Kalban said in an October 2015 interview that Dubai Investments had wanted to sell 30 per cent to 40 per cent of the utility by this year at the latest. The share sale had also been delayed in the aftermath of Dubai’s financial crisis.
Emicool provides cooling services to hundreds of homes and offices in areas such as Dubai Investments Park and Motor City.
* Bloomberg
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