AHG Chairman holds talks with senior officials from the Securities & Commodities Authority

Press release

Published October 24th, 2012 - 05:36 GMT

During the event

The Chairman of Al Habtoor Group, Khalaf Al Habtoor, welcomed officials from the Securities & Commodities Authority (SCA) at the Group’s head office in Dubai on Tuesday, October 23.

Khalaf Al Habtoor along with Mohammed Al Habtoor, Vice Chairman & CEO and Mohammed Fadhel Al Mazrooei, Managing Director of the Al Habtoor Group met HE Abdulla Alturifi, CEO of the Securities & Commodities Authority, Ayman Heikal, Legal Advisor and Saeed Al Saboosi, Issuance Section Head.

The meeting comes as the Al Habtoor Group considers an Initial Public Offering (IPO).

Khalaf Al Habtoor said “The meeting was aimed at broadening our understanding of what is required to take the Group public. We have already taken steps to ensure we have all the necessary practices in place.”

The SCA, which regulates the share market, aims to develop the capital market in the United Arab Emirates and help contribute to national economic growth. It recently introduced new rules to broaden the share market horizon, by bringing in new institutional players who are equipped with tools that can create demand and supply for shares in order to boost trading volumes.

Background Information

Al Habtoor Group

The Al Habtoor Group has grown with the United Arab Emirates. What started out as a small engineering firm in 1970, is today one of the region’s most respected conglomerates with interests in the hospitality, automotive, real estate, education and publishing sectors. The Al Habtoor Group has earned itself a solid reputation both locally and internationally due to the vision of its Chairman, Khalaf Ahmad Al Habtoor.