Published: October 1, 2014
Healthcare and education provider the latest in a series of companies to announce Dubai flotation.
Amanat Holdings, a Dubai-based healthcare and education provider, has announced its intention to raise US$374mn by listing on the Dubai Financial Market.
It will float a 55% stake valued at Dhs1.02 per share, the company announced in a press release. The sale is being managed by Credit Suisse and Deutsche Bank, and kicks off in late October. The company will use the funds to build and consolidate businesses in the Gulf with a health or education focus.
The announcement is a sign of renewed optimism on the Dubai equity markets. On Monday Emaar Malls Group carried out the first IPO on the exchange for five years, raising US$1.6bn in an offering that was more than 30 times oversubscribed. The following day, buoyed by the success of the listing, Emaar announced that it was to list its hospitality division before the end of 2014.