World’s Largest Indoor Theme Park Developer Said to Mull IPO
- IMG Group working with JPMorgan and EFG-Hermes on listing
- An IPO would take place in 2017 to raise funds for theme park
A man puts a small boy on his shoulders to look at an animatronic dinosaur at the IMG Worlds of Adventure amusement park in Dubai, United Arab Emirates, on Wednesday, Aug. 31, 2016. The IMG Worlds of Adventure indoor theme park opened Wednesday in Dubai, hoping to draw thrill seekers to its air-conditioned confines.
Photographer: Jon Gambrell/APDubai’s Ilyas & Mustafa Galadari Group, owner of the world’s largest indoor theme park, is considering a 2017 initial public offering as it seeks to raise funds for the project, according to people familiar with the matter.
The company, known as IMG, is working with JPMorgan Chase & Co. as the global coordinator for the transaction, the people said, asking not to be identified as the information is private. Egyptian investment bank EFG-Hermes Holding SAE also has a role, the people said. No final decision on the IPO has been reached and the company may consider other fundraising options, the people said.