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Emirates To Sell Up To 30% Of Shares In IPO

Tue Nov 13, 2007 12:15 pm

Dubai's Emirates, the largest Arab airline, intends to sell as much as 30 percent of its shares to the public, to help finance aircraft purchases, the state-owned carrier's chairman said on Tuesday.

"We have not begun any steps so far, but the intention is there," Emirates Chairman Sheikh Ahmed bin Saeed al-Maktoum told Al Arabiya television.

"We are talking about 20-30 percent," he said, without indicating when the shares would be sold.

"The timing of such an IPO, if there was to be one would be a decision for the government of Dubai," Simon said.

More at the Times Online UK

Article also states that the IPO would value the airline at around US$30 Billion.
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