{"id":91684,"date":"2024-05-06T00:00:00","date_gmt":"2024-05-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/etihad-airways-moves-forward-with-planned-ipo\/"},"modified":"2024-05-06T00:00:00","modified_gmt":"2024-05-06T00:00:00","slug":"etihad-airways-moves-forward-with-planned-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/06\/etihad-airways-moves-forward-with-planned-ipo\/","title":{"rendered":"Etihad Airways moves forward with planned IPO"},"content":{"rendered":"

Etihad Airways taps more advisors for IPO this year:<\/strong> Abu Dhabi flag carrier Etihad Airways has reportedly tapped Abu Dhabi Commercial Bank, Bank of America, BNP Paribas, and Morgan Stanley as joint bookrunners for its upcoming initial public offering, expected to take place the end of this year, Bloomberg<\/a> reports, citing people it says are familiar with the matter. The offering could raise as much as USD 1 bn, according to the sources, who did not disclose the specific size and timing of the IPO.<\/p>\n

ICYMI- <\/strong>Etihad parent company ADQ held talks earlier in March<\/a> with banks about the potential listing that sources said could be \u201cas soon as this year.\u201d The wealth fund previously chose<\/a> Citigroup, HSBC, First Abu Dhabi Bank as advisors for the airline\u2019s IPO, and appointed Rothschild & Co. as independent financial advisor. ADQ is eyeing potentially going after both a traditional IPO and direct listing. <\/p>\n

Background: <\/strong>ADQ was transferred full ownership of Etihad from the Supreme Council for Financial and Economic Affairs back in October 2022<\/a>. The airline last year saw its net income grow fivefold<\/a>, with CEO Antonoaldo Neves saying it is boosting profitability to prepare for the likelihood of an IPO.<\/p>\n

First legacy airline to go public in the Gulf?<\/strong> Etihad could be the first major Gulf carrier to trade publicly if the IPO goes through. Saudi low-cost airline Flynas<\/a> is also preparing to go public this year<\/a>, tapping Goldman Sachs, Morgan Stanley, and Saudi Fransi Capital for its upcoming IPO in Riyadh.<\/p>\n

And we have a bigger pipeline of IPOs: <\/strong>At least three other companies have expressed plans to move forward with IPOs this year, including edtech firm Alef Education<\/a>, which has also already tapped banks to advise on their transactions. Amanat Holdings is also reportedly looking to list<\/a> its healthcare unit, and shisha producer Advanced Inhalation Rituals is also eyeing an IPO<\/a> in 1H 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

The carrier selected Abu Dhabi Commercial Bank and Morgan Stanley as joint bookrunners on the potential IPO<\/p>\n","protected":false},"author":1,"featured_media":91685,"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":[1360,72,306,7,929,1392,149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-abu-dhabi","tag-adq","tag-aviation","tag-enterpriseam-uae","tag-etihad-airways","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"fb6668e9-b741-4d46-90fd-c0709ca49bf5","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2109.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi\u2019s Etihad Airways taps banks for 2024 IPO","related_issue":[91675],"teaser":"The carrier selected Abu Dhabi Commercial Bank and Morgan Stanley as joint bookrunners on the potential IPO","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.14085a8d-ac87-4f51-a5e7-d1d534cda5aa.mp3"},"yoast_head":"\nEtihad Airways moves forward with planned IPO - 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