Dubai – Mubasher: GEMS Education is reportedly drawing up a plan to launch an initial public offering (IPO).
The Dubai-based school operator is set to unveil plans to be listed on the London Stock Exchange, informed sources told Bloomberg News.
“GEMS owners — founder Sunny Varkey, Blackstone, Fajr Capital, and Bahrain’s Mumtalakat Holding — had been approached by a private equity company to buy a stake,” Bloomberg reported, citing those sources as saying.
However, the company’s spokesman declined to comment on this news, describing it as “rumours or speculation”.
