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Tristar pulls Dubai IPO as investors push back on valuation
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Tristar pulls Dubai IPO as investors push back on valuation
Tristar’s IPO was slated to be the second listing in three years on the Dubai Financial Market
April 14, 2021
Middle Eastern logistics firm Tristar Transport has pulled its initial public offering in Dubai, dealing a blow to the city’s attempts to revive the stock market.
Tristar has informed Dubai’s main bourse that the IPO has been withdrawn, CEO Eugene Mayne told
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Bloomberg 1/17/2021 Filipe Pacheco © Bloomberg The Burj Khalifa skyscraper, left, stands above other skyscrapers on the city skyline, seen from Dubai Creek Harbour Development in Dubai, United Arab Emirates, on Sunday, Sept. 6, 2020. Dubai made a rare foray into public bond markets, revealing along the way that its debt burden is now a lot smaller than estimated by analysts only months ago.
(Bloomberg) Qatar stocks led losses in the Middle East as companies started reporting results across the region.
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Profitability for lenders in the Gulf Arab region remains under pressure, with disruptions to trade and travel continuing to rattle the energy-rich region. Qatar National Bank QPSC, the Middle East’s biggest lender, reported last week a 16% drop in net income for 2020. Some banks in Oman also published results that showed a decline from last year. After the market closed o
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