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Tue 25 Sep 2012 10:28 AM

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Abu Dhabi-backed India firm ILFS eyes US$250m IPO

Abu Dhabi Investment Authority is a major shareholder and will launch the IPO in 2013

Abu Dhabi-backed India firm ILFS eyes US$250m IPO
DFM, Dubai investors, Dubai stock market, Dubai IPO

Leasing & Financial Services (ILFS), an Indian firm in which Abu Dhabi’s
sovereign wealth fund is a major shareholder, is planning to launch an initial
public offering of its wind power unit in Singapore, it was reported on

The company, whose
shareholders including State Bank of India, Japan’s ORIX Corporation and the Abu
Dhabi Investment Authority, may file the IPO in the fourth quarter and launch
the sale next year, sources told the Bloomberg news

The company, which
last year had a net worth of around US$404.8m and made a profit of US$101.4m, is
hoping the IPO will raise around US$250m, the report

Earlier this month it
was reported ILFS had entered into a joint venture to invest AED477m in an oil
storage terminal at Fujairah.

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