Dubai Bentley Dealer Closer to IPO, Weighs Europe Purchases
- Al Habtoor says IPO documents need updating with new projects
- Dubai’s hotel industry is stable as economic growth slows
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Al Habtoor Group LLC, the sole dealer of Bentley and Bugatti in the United Arab Emirates, is closer to the initial public offering it has been considering since 2000, its chief executive officer said in an interview.
“We have all the documents ready, all that we need to do is to update all the information” to include revenue from the recently completed Al Habtoor City project, Mohammed Al Habtoor told Bloomberg TV. His father, billionaire Khalaf Al Habtoor, said in December 2012 the Dubai-based investment and contracting company was postponing a share sale because it didn’t see sufficient opportunities to invest the proceeds.