The CEO of Mubadala Investment Company, Khaldoon Al-Mubarak, said that the company’s shares are expected to be offered Emirates Global Aluminium In the financial market during the third quarter of this year.
Emirates International is the largest producer of aluminum metal in the Middle East and is equally owned by Mubadala Investment Company and Dubai Investments.
The company entered discussions to appoint banks two years ago to discuss options for a public offering, as it was looking for a valuation of up to $ 15 billion.
The company owns smelters in Abu Dhabi and Dubai and a bauxite mine in Guinea. The listing of EGA will rank among the largest public offerings ever in the UAE.
The profits of Emirates Global Aluminum increased by about 4 times in the first half of the year 2022, to reach 5.9 billion dirhams, thus exceeding the profits of the entire year 2021.