Abu Dhabi – Mubasher: Eshraq properties has no intention to float shares on Saudi stock market (Tadawul) in the near term, said Chairman Jassem Al Siddiqi.
“Earlier, the company has an intention to list its shares on Tadawul, but there are still number of required procedures that prevent completing this step,” added Chairman.
“The company currently tend to focus more on completing its current projects and enhancing the value of its assets that stands at nearly AED2 billion,” noted Chairman.
In 2013, Eshraq has applied for a secondary listing on Saudi Arabia's stock market to float around 30% of its capital and mandated Banque Saudi Fransi as financial advisor for the share offering.
Eshraq properties is listed on Abu Dhabi exchange since 2011, with operating capital exceeding AED2.3 billion.
