Abu Dhabi Construction Firm Is Said to Tap FAB, HSBC for Listing
This article is for subscribers only.
Arabian Construction Co. has picked First Abu Dhabi Bank and HSBC Holdings Plc to advise on a planned initial public offering in the United Arab Emirates, adding to the rush of firms seeking to cash in on the country’s booming property market.
The Abu Dhabi-based company has hired the banks to work on a listing that could happen as soon as the second half of the year, according to people familiar with the matter. ACC, as the firm is known, is aiming to raise several hundred millions of dollars, one of the people said, declining to be identified while discussing private information.