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Fri 19 Mar 2010 07:44 AM

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Dubai Investment in talks to list PE unit - exec

M'Sharie to be listed on Dubai Financial Market or Nasdaq Dubai within a year.

Dubai Investments is in talks to list its private equity arm, M'Sharie, on the Dubai Financial Market or Nasdaq Dubai within a year, its chief executive said on Thursday.

"We are in negotiations with the DFM and Nasdaq Dubai to list," Khalid bin Kalban told Reuters.

"Hopefully, it will be no later than March 2011," he said.

M'Shaire, focuses on private equity investments in medium and large scale establishments in the Middle East region, according to Dubai Investments' website.

Dubai Investments has been invited to manage investment parks in Jordan and Saudi Arabia, the CEO said. The company is also awaiting a final approval to develop and manage an investment park in Fujairah, a northern emirate in the UAE, the first phase of which will cost 100 million dirhams ($27.23 million), he added.

The firm expects total investments in its multi-use complex Dubai Investment Park to be between 75-80 million dirhams on completion in 2012, Arabic daily al-Bayan reported earlier on Thursday, citing Kalban.

Dubai Investments shares closed 2 percent higher at 1 dirham on Thursday. Dubai's sovereign wealth fund Investment Corporation of Dubai has a stake in the company. (Reuters)

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