Dubai Holding is currently studying the public offering of the business park operator TECOM Group.
According to Al Arabiya Net, sources told Reuters, who asked not to be named because the matter is not public, that the US investment banks Morgan Stanley, Goldman Sachs and the Swiss bank UBS are close to Obtaining an authorization to provide advice related to the public offering of shares.
TECOM and Dubai Holding did not immediately respond to a request for comment.
Morgan Stanley and Goldman Sachs declined to comment.
The Dubai market is witnessing great momentum after announcing the adoption of the launch of a market maker fund to enhance trading in the stock market, and it aims to list 10 state-backed companies on the stock exchange.< /p>
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, said that a committee overseeing the development of the market adopted the goal of doubling the size of the financial market to three trillion dirhams, adding It was decided to list 10 government and semi-governmental companies on the Dubai Financial Market.
He also announced the formation of a market supervision committee and specialized courts for capital markets in the emirate, the commercial and tourism hub of the Gulf region.
