(Boursier.com) — Etihad Airways could soon stand on its own two feet. The Abu Dhabi-based company, owned by the ADQ fund, could be listed on the stock exchange as early as this year. According to people close to the matter cited by ‘Bloomberg’, the sovereign fund has held discussions with banks about a potential IPO in the coming months. The form the IPO could take has not yet been chosen, deliberations are ongoing and details such as the size and timing of any listing are still unclear.
A listing of Etihad would be the first privatization of a major Gulf airline and would be the latest example of how the UAE is using its national champions to boost the domestic stock market and diversify the economy outside the oil. In neighboring Saudi Arabia, the Flynas company, backed by billionaire prince Alwaleed Bin Talal, is also reportedly studying an IPO in the Kingdom this year, ‘Bloomberg News’ reported in December.
An IPO from Etihad, partner of Air France KLM, would allow the carrier to open a new chapter after a few tumultuous years, marked by the acquisition of multiple stakes in various companies. A strategy that hardly pays off as the latest major Gulf airline group faces fierce competition from Emirates and Qatar Airways. To recite nobody else but them.
©2024 Boursier.com
Please note, our “Rumors” section aims to echo the information circulating in the trading rooms. These rumors cannot be verified, so they should be considered with caution.