Mubasher: Noon is looking to float its shares on the stock market in a global cross-listing within the coming five years, the UAE e-commerce platform founder and the chairman of Emaar Properties Mohamed Alabbar said.
“This is an Arab company and the customers should enjoy the benefits, they should also have the chance to become shareholders. Listing the company is the least we can do,” Alabbar told Arabian Business on Tuesday.
It is worth noting that Alabbar and Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), each own 50% stake in the $1 billion platform.
The e-commerce giant is also working on implementing acquisitions or partnerships in a bid to boost its position, noting that no specific deal was on the horizon.
Noon also plans to add grocery deliveries to its platform that would begin as of 2019.
“We are building something big here and you have to keep at it,” Alabbar added.
