{"id":107692,"date":"2025-09-22T00:00:00","date_gmt":"2025-09-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-ega-taps-banks-for-ipo-mubadala-weighs-exit-from-turkish-delivery-startup-getir\/"},"modified":"2025-09-22T00:00:00","modified_gmt":"2025-09-22T00:00:00","slug":"this-morning-ega-taps-banks-for-ipo-mubadala-weighs-exit-from-turkish-delivery-startup-getir","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/09\/22\/this-morning-ega-taps-banks-for-ipo-mubadala-weighs-exit-from-turkish-delivery-startup-getir\/","title":{"rendered":"THIS MORNING: EGA taps banks for IPO + Mubadala weighs exit from Turkish delivery startup Getir"},"content":{"rendered":"

Good morning, lovely people, and welcome to the official start of fall. <\/strong>Temperatures are cooling down slightly and conference season (along with traffic) is back in full swing. <\/p>\n

It\u2019s a relatively quiet morning, as is usual for Mondays<\/strong>, but we have a mixed bag of news for you to dig your teeth into this morning. Leading our newswell<\/strong> is news that the UAE will be adopting the OECD\u2019s crypto reporting framework in 2027<\/strong>, with a public consultation open until November. Meanwhile, Emirates NBD\u2019s Turkish unit<\/strong> has issued a USD 270 mn green bond<\/strong>, and BHM Capital<\/strong> doubled its share capital<\/strong> through a rights issue to pursue an expansion drive. <\/p>\n

ALSO- We have a long read on Gulf sovereign wealth funds\u2019 increased interest in Asia<\/strong>, as the region offers returns in strategic sectors like renewables, technology, and infrastructure, while the West faces headwinds. <\/p>\n

^^We have the details on this and more in the news well, below. <\/p>\n

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Were you traveling this weekend?<\/strong> If you\u2019ve faced some disruptions, it may have been due to a cyberattack<\/a> on aerospace solutions provider Collins Aerospace<\/a>, which hit check-in and boarding systems across Europe. Etihad Airways reported unusually long check-in times at certain airports, Gulf News<\/a> reported on Saturday, citing a statement from the carrier. Emirates said its operations were not significantly hindered.<\/p>\n

M<\/strong>ajor hubs like London\u2019s Heathrow Airport, Brussels Airport, and Berlin Airport reported the cancellation of 29 arrivals and departures<\/strong>, Reuters<\/a> reported on Sunday.<\/p>\n

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WEATHER- <\/strong>The mercury is set to reach 37\u00b0C in Dubai<\/strong>, with an overnight low of 30\u00b0C, while Abu Dhabi<\/strong> will see a high of 41\u00b0C and a low of 30\u00b0C, according to our favorite weather app.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Em<\/strong>irates Global Aluminium (EGA) tapped banks to arrange <\/strong>its potential IPO<\/a><\/strong>, which could value it at USD 10-15 bn, Bloomberg<\/a> reports, citing people it says are familiar with the matter. The venue and timeline of the offering remain under wraps. The firm is in talks with Citigroup, Goldman Sachs, Emirates NBD Capital, and First Abu Dhabi Bank (FAB) to lead the transaction, the sources said. Rothschild & Co advising.<\/p>\n

Background: <\/strong>EGA has been weighing a public listing for nearly a decade, shelving earlier attempts in 2018 and 2021 despite signals from owners \u2014 which include Mubadala and the Investment Corporation of Dubai \u2014 that a float was on the table. The IPO would come as the company faces some headwinds, including newly imposed US<\/a>aluminium tariffs<\/a> and the loss of a key mining concession<\/a> in Guinea, even as it presses ahead with a USD 4 bn smelter in Oklahoma and eyes fresh African bauxite projects.<\/p>\n

ALSO IN THE PIPELINE-<\/strong><\/p>\n