{"id":112613,"date":"2026-02-03T00:00:00","date_gmt":"2026-02-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/2026\/02\/03\/emirates-global-aluminium-taps-investors-ahead-of-ipo\/"},"modified":"2026-02-03T00:00:00","modified_gmt":"2026-02-03T00:00:00","slug":"emirates-global-aluminium-taps-investors-ahead-of-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/02\/03\/emirates-global-aluminium-taps-investors-ahead-of-ipo\/","title":{"rendered":"Emirates Global Aluminium taps investors ahead of IPO"},"content":{"rendered":"

Emirat<\/strong>es Global Aluminium (EGA) reportedly started investor meetings ahead <\/strong>of a potential IPO<\/strong> on the ADX that could value the industrial giant at USD 10-15 bn, Bloomberg<\/a> reports, citing people it says are in the know. The listing, which could land as early as this year, marks the culmination of a decade-long will-they-won't-they saga<\/a> for the Mubadala and ICD-owned firm. <\/p>\n

A much needed raise?<\/strong> The company swung to an AED 890 mn net loss in 1H 2025<\/a> following the Guinean government\u2019s expropriation of its bauxite subsidiary \u2014 a move that triggered a heavy AED 2.5 bn impairment.<\/p>\n

Our take: <\/strong>If the USD 10-15 bn valuation holds, it signals that the market is willing to look past immediate bottom-line volatility in favor of EGA\u2019s long-term strategic integration into the US-UAE industrial axis. <\/p>\n

To bridge the gap, EGA is likely to pivot the narrative toward its Oklahoma story.<\/strong> By partnering with Century Aluminum to build the first new US smelter in 46 years<\/a>, EGA is positioning itself as an essential partner in Western supply chain security. This USD 5-6 bn joint venture allows the company to move beyond its role as a regional exporter and become a domestic US producer, effectively hedging against the tariffs that usually squeeze non-US aluminum players. The success of the offering now rests on whether investors view the Guinea loss as a one-off accounting event or a permanent shift in the company\u2019s risk profile. <\/p>\n

ADVISORS-<\/strong> Citigroup, Goldman Sachs, Emirates NBD Capital, and First Abu Dhabi Bank are expected to run the process, with Rothschild & Co advising. <\/p>\n","protected":false},"excerpt":{"rendered":"

The listing comes after EGA secured a partnership to build the US\u2019 first smelter in 46 years<\/p>\n","protected":false},"author":1,"featured_media":112614,"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":[2414],"tags":[871,7,1392,2413],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-112613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-big-story-today","tag-emirates-global-aluminium","tag-enterpriseam-uae","tag-ipo","tag-the-big-story-today","wpautop","entry"],"acf":{"mongo_id":"93238529-dcd0-4836-89c3-429eae615eec","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/180.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Could EGA be our first IPO of the year?","related_issue":[112608],"teaser":"The listing comes after EGA secured a partnership to build the US\u2019 first smelter in 46 years"},"yoast_head":"\nEmirates Global Aluminium taps investors ahead of IPO - 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