LONDON: Emirates Global Aluminium (EGA), the largest aluminium producer in the Middle East, is preparing to sell shares amid a comeback in commodities prices, according to people familiar with the matter.
The United Arab Emirates-based company is seeking advisers for a potential initial public offering (IPO) on the local stock exchange as early as this year, the people said, asking not to be named as the details aren’t public. The UAE agreed to merge its two flagship state aluminium firms in 2013 to create EGA, with an enterprise value of about US$15bil.
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