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Davos Latest News: Mubadala Says Emirates Global Aluminium IPO Likely This Year

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Nov 23, 2023

Davos Latest News: Mubadala Says Emirates Global Aluminium IPO Likely This Year

Aluminum ingots at the Emirates Global Aluminium Al Taweelah plant in Abu Dhabi,

Aluminum ingots at the Emirates Global Aluminium Al Taweelah plant in Abu Dhabi, United Arab Emirates.

Ben Bartenstein and

Nicolas Parasie

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Emirates Global Aluminium, the Middle East's biggest producer of the metal, may sell shares to the public as soon as the third quarter of 2023, according to the head of one of its biggest shareholders.

"It will happen maybe this year. We’ll see how markets react," Mubadala Investment Co. Chief Executive Officer Khaldoon Khalifa Al Mubarak told Bloomberg on the sidelines of the World Economic Forum's annual meeting in Davos. "If it's appropriate and makes sense for us and the shareholders, we might go in the third quarter or fourth quarter."