Al Habtoor Says IPO Delayed on Scarce Investment Prospect

Al Habtoor Group LLC, controlled by billionaire Khalaf Al Habtoor, postponed an initial share sale because it didn’t see sufficient opportunities to invest the proceeds and may consider reviving the plan in 2014.

“We didn’t find an opportunity that would give us good return to give shareholders,” Al Habtoor said in a Dec. 23 interview at his office in Dubai. “We looked at safe markets, like Germany and Britain and we found that in the areas we know, there is nothing but recession.”