UAE’s Massar Solutions Says Postpones Flotation, Cites Poor Demand
Massar will postpone the initial public offering (IPO) until oil prices are more stable, it said.
Massar Solutions, a United Arab Emirates vehicle rental and fleet management firm, on Tuesday said it is postponing its initial share offering on the Abu Dhabi bourse, citing poor demand due to market volatility.
Massar will postpone the initial public offering (IPO) until oil prices are more stable, it said in a statement.
A report in local newspaper The National on Sunday said that less than half the shares had been subscribed to during the offer period, which ran from Jan. 11 and Jan. 25.