In a move that emphasizes the growing attractiveness of the Gulf’s capital markets, the Peninsula Real Estate Company is preparing to list its shares on the Abu Dhabi Stock Exchange (ADX), as an alternative to the offering plan in London, according to Bloomberg, citing sources.
Emirates NBD, First Abu Dhabi Bank (FAB), HSBC Holdings, and Morgan Stanley have been selected by the firm, which has considerable assets in the UAE, to help manage the listing.
The company was initially exploring listing a real estate investment trust at a value of $1 billion on the London Stock Exchange (LSE).
The Peninsula was initially exploring listing a real estate investment trust at a value of $1 billion on the London Stock Exchange (LSE), which would have made it the first company with significant assets in the UAE to do so since 2019. It had hired investment bank Evercore and legal firm Clifford Chance to support it with the process.
