RIYADH: UAE’s Peninsula Real Estate has opted for a stock listing on Abu Dhabi’s exchange, after abandoning plans to list in London, Bloomberg reported citing unnamed sources.
The company was initially exploring listing a real estate investment trust at a value of $1 billion on the London Stock Exchange.
Bloomberg’s sources noted the company ended London listing talks in light of the growing attractiveness of the Gulf’s capital markets.
Emirates NBD, First Abu Dhabi Bank, HSBC Holdings Plc, and Morgan Stanley have been selected to manage the initial share sale, the sources added.
Peninsula and Emirates NBD declined to comment to Bloomberg on the news.