Dubai Investments, which owns stakes in more than 40 companies, plans to borrow about $300m from banks this year as it seeks to maintain profit levels, CEO Khalid Bin Kalban said in an interview in Dubai on Thursday.
The company will take a decision by the third quarter on an initial public offering by its private equity firm Masharie, he said.
An IPO by Emirates District Cooling, another Dubai Investments unit, will most likely take place in 2012 or 2013, he said.
Dubai Investments expects its 2011 profit to be similar to that in 2010, while seeing a 30 percent gain in operating profit, Kalban said.For all the latest business 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.
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