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Tristar to shine on DFM for $160mMENA

Tristar to shine on DFM for $160m

It’s time to roll out the red carpet for a special event taking place at the Dubai Financial Market — logistics firm Tristar Transport confirmed its plans to go public in April, and it may just become one of the UAE’s largest blue-chips pretty soon.

The company, which serves oil companies around the globe, aims to sell 24% of its share capital for up to $160m. If all goes well, the IPO could potentially up Tristar’s valuation to almost $1b. Unfortunately, you can’t get your hands on these hot shares just yet, as the offering will only be made available to qualified investors — so start looking for your “wastas”!

why it matters
This is a big deal because it marks the DFM’s second IPO in three years (no, not quite like the hot US IPO market). Besides, if priced at the top of the offering range, Tristar could even be the biggest debut on the DFM since Emaar raised $1.3b back in 2017!