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Bahrain’s Mumtalakat plans IPO for McLaren in 3 years

Mumtalakat has $18 billion in assets under management
Bahrain’s Mumtalakat plans IPO for McLaren in 3 years
McLaren

Bahrain’s sovereign wealth fund, Mumtalakat, expects McLaren to go public in two to three years, Khalid Al Rumaihi chief executive said. 

Mumtalakat has a 60 percent stake in the British racing team and supercar maker McLaren. 

The fund, which has just north of $18 billion in assets under management, released its standalone annual results on Tuesday, which showed it swung to profit in 2021 from a loss in 2020.

The fund reported a profit of 45.6 million dinars ($120.96 million) for 2021, compared with a loss of 550.7 million dinars for the year 2020. It said the results were the fund’s highest earnings on an annual basis since it was established in 2006.

 Al Rumaihi said the results were the fund’s highest earnings on an annual basis since it was established in 2006.

The fund paid dividends to the government, he said, of 20 million dinars as a contribution to the national budget.