ABU DHABI: An Abu Dhabi government-owned holding company may sell its own shares or offload a stake in one of its main businesses as part of plans to spur listings on the local stock market, three sources familiar with the matter said.
General Holding Corp (Senaat), which has nearly $7bn in assets, has approached banks with a proposal for a potential share listing.
Oil-rich Abu Dhabi, the capital of UAE, and its neighbouring city state Dubai are leading a revival of economic growth in the UAE.
Dubai’s benchmark index is among the best-performing measures globally this year, having risen 40.6 percent year-to-date and Abu Dhabi’s benchmark index is up 30.5 percent. But there have been few new listings.
The last one on the Dubai Financial Market bourse was in March 2009, while the Abu Dhabi bourse has only seen a couple of minor sales since 2008. Reuters
