We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 25 Sep 2012 10:28 AM

Font Size

- Aa +

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

Infrastructure
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
Monday.

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
agency.

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
added.

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

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.