Regency Group, one of the largest and most successful family groups in Qatar, is considering listing on the stock market. Any move would come in the wake of Regency Group’s conversion into a holding company, due before the end of the year.
“Next month we will become a holding company, as we’ve finished all the documentation, and we are thinking of putting it on the stock market very soon,” Ibrahim Al Asmakh, chairman and founder of Regency Group, told Arabian Business.
Analysts suggest that even a conservative estimate of the group’s listing worth would be in excess of US$1bn.
It would be one of several new listings.
Al Asmakh claimed that the listing would allow his family to step back from the group.
“When we put Regency Group on the market, this will not be another family-owned business that will continue to be so,” he said. “We will not keep more than a 20% interest in it, whereas all the other family companies, they own 40-60%, and they float 60-40% on the market.
“I want to retire, and I mean that. I would like new people to come in, and I would like the new shareholders to join in the growth and prosperity of this company,” he continued. “I think new blood always gives you an edge to develop faster.”
Regency Group has a diversified portfolio including Al Asmakh Real Estate Development Company, Grand Regency Hotel, Regency Halls, Regency Pool, Regency Mall and the car rental firm Regency Fleet.
Counting ministries, corporations, hospitals and private companies as its partners, the firm was founded in 1987 and is headquartered in Doha.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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