Emirates IPO...What was said, what is being said and what has not been said...would you buy?
Guess we can count out a bumper profit sharing year if funds are going to be channeled to an initial IPO offering...
Read the an Interview given to a
USA Paper in Feb 2006 here which gave away some mixed smoke signals when Sheikh Ahmed Bin Saeed Al Maktoum was Interviewed.
What kind of information can you give us about this IPO and what do you consider its advantages and disadvantages?
We are not talking about an IPO for Emirates Airlines so what we have been hearing in the papers over the past year or so it is not a decision the government has taken. I am sure that in the near future something like this will happen and it will be positive. We have an excellent company if we take into account the last twenty years of profit. If Emirates goes public, it will be very interesting for investors to buy its shares.
Fast Fwd to October 30th 2007 Todays Local Khaleej Times business section
DUBAI — Emirates airline, the region's largest and one of the world's fastest growing carriers, is considering an initial public offering (IPO) that could value it at between $20 billion and $30 billion.
Shaikh Ahmed bin Saeed Al Maktoum, President Dubai Department of Civil Aviation and Chairman of Emirates Group, told The Times newspaper that an IPO is now part of the airline's strategy.
He said: "I think more and more Dubai companies will see this is important in the near future. The DP World IPO is a very positive thing. I think for sure Emirates will also, in the future, do something like that."
Later, the airline's president Tim Clark commented to Reuters: "Based on our multiples and profitability, (and) our Heathrow slots, I would say we should be valued at between $20 billion and $30 billion. $20 billion is a minimum." He also added that he had "no knowledge" of a decision by the Dubai government to sell shares.
In response to The Times report, the airline said in a statement: "We confirm that what our chairman has said to The Times is accurate and we have nothing further to add. Eventually, as expressed by our chairman during the interview, any decision for an IPO rests with our owners, the Government of Dubai."
Read the Times Article Emirates set for $20bn flotation on Dubai market from
October 29th 2007 here