Dubai's FIVE Hotels mulls IPO in London or New York
Kabir Mulchandani, the chairman and founder of FIVE Holdings, stated last year that the company was valued at up to $3 billion and was considering a dual listing. However, he did not specify potential locations.
London could be a strong contender for the listing, given the majority of FIVE's Ibiza clubs' clientele are British nationals. This segment of the business significantly contributes to the group's revenues, the report added. Such a move could also provide a positive push for London's market, which has had difficulty attracting IPOs.
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