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Monday, December 6, 2021

Amanat Holdings earmarkes at least Dhs1.5bn for acquisitions next year, sees IPO candidates in portfolio

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Amanat Holdings, the health-care and education investment firm, has reserved essentially Dhs1.5bn ($408m) for acquisitions one year from now and a portion of its portfolio companies are contender for stock market listings, its chief executive said.

In 2022, we have a reserve of around Dhs1.5bn basically to be put resources into medical care and training, said chief executive officer Mohamad Hamade told media.

Amanat spent more than Dhs1bn on acquisitions this year. Markets like the UAE, Saudi, Egypt, be it in higher education, K12 or specific medical services is an objective for ourselves and we are presently exploring all of the abovementioned, he said.

Amanat may likewise profit from a progression of drives declared by Dubai authorities to energize postings on the stock exchange, Hamade said.

Dubai is planning to list 10 state-owned companies on its stock market. Emirates, the carrier that changed the city into a global business and the travel industry center, may likewise offer offers to people in public.

The public authority intends to list utility DEWA prone to be the city’s biggest arrangement and its Salik street cost assortment framework. Private and family-owned businesses are also being encouraged to sell shares on the local bourse.

“In our platforms, be it on the health-care side or the eduction side, we have candidates that can be potential IPOs at the right time in line with our strategy,” Hamade said. “And target jurisdictions could be local and international markets.”

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