{"id":106359,"date":"2025-08-08T00:00:00","date_gmt":"2025-08-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/ega-to-revive-ipo\/"},"modified":"2025-08-08T00:00:00","modified_gmt":"2025-08-08T00:00:00","slug":"ega-to-revive-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/08\/08\/ega-to-revive-ipo\/","title":{"rendered":"EGA to revive IPO?"},"content":{"rendered":"

Emirates Global Aluminium (EGA) could be reviving plans for a poten<\/strong>tial initial public <\/strong>offering <\/strong>that could rank among the region\u2019s largest, Bloomberg<\/a> reports, citing people familiar with the matter. The UAE aluminium producer sent requests for proposals to banks, with Rothschild & Co. advising, the sources said. No clear timeline was given for the potential IPO.<\/p>\n

Long time coming: <\/strong>Backed by Mubadala and the Investment Corporation of Dubai, EGA has explored going public multiple times over the past decade, including in 2018 and 2021, but shelved those plans. Mubadala CEO Khaldoon Al Mubarak said in 2023<\/a> that a listing could happen \u201cmaybe this year,\u201d though no decision was made.<\/p>\n

Where things stand: <\/strong>The company is \u201cexploring potential requirements to ensure readiness\u201d with the final call still in shareholders\u2019 hands. The choice of venue \u2014 Abu Dhabi or Dubai \u2014 will be a key factor as both push state-backed firms to list locally.<\/p>\n

SOUND SMART-<\/strong> The ADX has a deeper capital base, with a market cap of more than AED 3 tn, and features heavyweights like Adnoc\u2019s subsidiaries, Abu Dhabi\u2019s IHC, and more, while the DFM is smaller, but boasts a diversified roster of firms in sectors ranging from tech to telecoms and real estate. While most Abu Dhabi-backed firms usually take the ADX route, EGA\u2019s affiliation with Dubai could throw that into question. <\/p>\n

No numbers yet:<\/strong> An offering could raise several bn USD, though no size has been confirmed. A previous valuation pegged EGA at over USD 15 bn. <\/p>\n

The backdrop:<\/strong> The potential IPO comes as EGA faces operational headwinds, including newly imposed US aluminium tariffs<\/a> and a recent setback in Guinea, where it lost a key mining concession<\/a>. At the same time, it\u2019s pushing ahead with its US expansion plans, including a planned USD 4 bn plant in Oklahoma<\/a>, and is in the running to develop Ghana\u2019s Nyinahin Hills bauxite deposit<\/a>, after signing an MoU in June<\/a> with Ghana\u2019s state-owned aluminium development firm.<\/p>\n

REMEMBER- The UAE could see between three to five IPO<\/strong>s this year:<\/strong>. The pipeline includes firms like Dubizzle<\/a>, Five Holdings<\/a>, Alec Engineering<\/a>, and IHC\u2019s 2PointZero<\/a>, while a highly anticipated IPO from Etihad Airways could be delayed<\/a> to 2026. Dubai Investments also said it could IPO one of its subsidiaries this year<\/a>. Meanwhile, Abu Dhabi Investment Group (ADIG) is eyeing listings<\/a> for its financial unit and energy subsidiary <\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE aluminium producer reportedly sent RFPs to banks<\/p>\n","protected":false},"author":1,"featured_media":106360,"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":[1560],"tags":[871,7,1392,149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-106359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-emirates-global-aluminium","tag-enterpriseam-uae","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"da43f6f3-1231-45c1-800b-bbed1e375942","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1972.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emirates Global Aluminium weighs multi-bn USD share sale after years of delays","related_issue":[106354],"teaser":"The UAE aluminium producer reportedly sent RFPs to banks","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.d34cc25f-bb89-4cab-989c-9ea3ccf7dfc2.mp3"},"yoast_head":"\nEGA to revive IPO? 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