Gulf Capital has postponed its initial public offering for 18 months, blaming the volatility of the capital markets for its decision.

(and the pundits say Shariah Compliant Finance is resiliant to the ups and downs of the Western Markets!)

Gulf Capital, one of the largest and best-capitalized investment companies in the region, has postponed its initial public offering (IPO) until well into 2010. The firm has some Dh1.5 billion in capital but is putting its IPO off for 18 months. The move is significant since the financial services sector has been key to the success of the IPO market in the Gulf over the past two years.

 

 

http://www.cpifinancial.net/v2/News.aspx?v=1&aid=1226&sec=Investment%20Banking