By Staff writer
Giant private school operator could list as early as next year, depending on market conditions
One of the world’s largest private school operators, Dubai-based GEMS Education, is reportedly talking to advisers about a potential listing.
Bloomberg cited unnamed people familiar with the matter as saying that the initial public offering (IPO) could take place as early as next year, although no final decision on the listing had been taken, and that the firm may decide against the move if market conditions are unfavourable.
In April, Bloomberg also reported that GEMS had raised a $250 million three-year loan to build new schools in the Gulf.
In 2014, private equity investors Fajr Capital, Blackstone and Bahrain sovereign fund Mumtalakat acquired a "significant minority stake" in GEMS Education's emerging markets business.
GEMS has 78 schools in regions including America, Middle East and North Africa, Asia and Europe.