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Friday, September 21, 2007
United Arab Emirates makes concession for family businesses
Dubai’s Al Habtoor Group has become the first family owned business in the United Arab Emirates to consider a listing under a new law allowing families to keep control of their businesses while issuing shares.Until last month, UAE law required family owned firms to sell a minimum of 55% of the business in an initial public offering, however, the figure was viewed as too high, so most remained privately held.
The lowering of the ceiling to 30% is expected to unlock opportunities for investors as more families list shares in their billion-dollar companies. Read more... posted by Charles Monat Associates at 10:37 PM
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