{"id":77648,"date":"2024-03-27T00:00:00","date_gmt":"2024-03-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/"},"modified":"2024-03-27T00:00:00","modified_gmt":"2024-03-27T00:00:00","slug":"could-tristar-revive-its-ipo-process","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/","title":{"rendered":"Could Tristar revive its IPO process?"},"content":{"rendered":"

<\/strong>Dubai-based energy logistics <\/strong>firm <\/strong>Tristar<\/a><\/strong> is report<\/strong>edly kicking off a fresh push to sell <\/strong>stakes in the company<\/strong>, in a bid to capitalize on a recent surge in revenues, Bloomberg<\/a> reported earlier this week, citing sources with knowledge of the matter. Tristar has reportedly tapped deNovo Partners<\/a> to work on the sale process, with the pair looking to bring aboard another advisor to assist, the sources said. Details on the valuation and stake on offer have not been disclosed.<\/p>\n

What\u2019s next? <\/strong>Tristar\u2019s investors are looking to bank on the company\u2019s improved performance, on the back of its expansion to 29 countries, compared to the 21 countries it operated in during a previous round of IPO talks which fell through in 2021<\/a>. Current IPO talks are ongoing, but could break down, the sources said. <\/p>\n

More on the ditched IPO:<\/strong> Tristar withdrew its 24% offering on DFM \u201clargely due to a mismatch in valuation expectations and investor education,\u201d Chief Executive Eugene Mayne had told Bloomberg<\/a>. Tristar\u2019s withdrawal was seen as a setback for Dubai\u2019s financial markets in 2021, with the city seeing a years-long dry spell in listings. The firm had initially planned a London listing, but withdrew after a fraud case involving London-listed NMC Health stoked anxieties about governance and transparency vis-a-vis GCC-based firms. <\/p>\n

ICYMI- <\/strong>Tristar saw its revenues surge 78.3% y-o-y to USD 554 mn in 1H 2023, according to a press release<\/a>.<\/p>\n

About Tristar: <\/strong>Tristar is 65% owned by Kuwait\u2019s Agility, with Gulf Investment Corp holding a 20% stake, and Mayne owning the remainder, Bloomberg said. The firm describes itself as a fully integrated energy logistics outfit serving downstream oil and gas sectors, and is active in maritime and road transport, bunkering, fuel storage, and other fields, according to its website<\/a>. <\/p>\n

Tristar\u2019s recent activities: <\/strong>The firm inaugurated a new 10k sqm trucking staging station<\/a> facility in Qatar in September 2023, and inked an agreement with Turkish Akdeniz Shipyard to build a hybrid bunker barge<\/a> for the UAE\u2019s Port of Fujairah, scheduled for commission in 1Q 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

A previous attempt at an IPO failed in 2021 due to lackluster investor demand<\/p>\n","protected":false},"author":1,"featured_media":77649,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[229],"tags":[235,228,288,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-agility-logistics","tag-ipo-watch","tag-mena-ipos","tag-uae","wpautop","entry"],"acf":{"mongo_id":"9bc4c037-149b-4c4a-bfd1-4da5323fecca","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2343.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Could Tristar revive its IPO process?","related_issue":[77641],"teaser":"A previous attempt at an IPO failed in 2021 due to lackluster investor demand","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.0e18f9b9-7834-43c0-a4f5-e184ade5da97.mp3"},"yoast_head":"\nCould Tristar revive its IPO process? - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Could Tristar revive its IPO process?\" \/>\n<meta property=\"og:description\" content=\"A previous attempt at an IPO failed in 2021 due to lackluster investor demand\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/\" \/>\n<meta property=\"og:site_name\" content=\"Logistics\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-27T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Could Tristar revive its IPO process?\",\"datePublished\":\"2024-03-27T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/\"},\"wordCount\":340,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Agility Logistics\",\"IPO WATCH\",\"MENA IPOs\",\"UAE\"],\"articleSection\":[\"IPO Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/\",\"name\":\"Could Tristar revive its IPO process? - Logistics\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-03-27T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/logistics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Could Tristar revive its IPO process?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#website\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/\",\"name\":\"Logistics\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/logistics\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\",\"name\":\"Logistics\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/29618.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/29618.svg\",\"caption\":\"Logistics\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/logistics\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Could Tristar revive its IPO process? - Logistics","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/","og_locale":"en_US","og_type":"article","og_title":"Could Tristar revive its IPO process?","og_description":"A previous attempt at an IPO failed in 2021 due to lackluster investor demand","og_url":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/","og_site_name":"Logistics","article_published_time":"2024-03-27T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Could Tristar revive its IPO process?","datePublished":"2024-03-27T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/"},"wordCount":340,"publisher":{"@id":"https:\/\/enterpriseam.com\/logistics\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1","keywords":["Agility Logistics","IPO WATCH","MENA IPOs","UAE"],"articleSection":["IPO Watch"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/","url":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/","name":"Could Tristar revive its IPO process? - Logistics","isPartOf":{"@id":"https:\/\/enterpriseam.com\/logistics\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1","datePublished":"2024-03-27T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/27\/could-tristar-revive-its-ipo-process\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/logistics\/"},{"@type":"ListItem","position":2,"name":"Could Tristar revive its IPO process?"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/logistics\/#website","url":"https:\/\/enterpriseam.com\/logistics\/","name":"Logistics","description":"","publisher":{"@id":"https:\/\/enterpriseam.com\/logistics\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/logistics\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/logistics\/#organization","name":"Logistics","url":"https:\/\/enterpriseam.com\/logistics\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/29618.svg","contentUrl":"https:\/\/ent.news\/internal\/29618.svg","caption":"Logistics"},"image":{"@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/logistics\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/logistics\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2343.jpg?fit=%2C&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/posts\/77648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/comments?post=77648"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/posts\/77648\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/issue\/77641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/media\/77649"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/media?parent=77648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/categories?post=77648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/tags?post=77648"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/brand?post=77648"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=77648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}