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Massar ... waiting for oil prices to stabilise.

Massar postpones IPO, cites poor demand

ABU DHABI, February 3, 2015

Massar Solutions, a UAE 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 January 11 and 25. – Reuters

Tags: IPO | share offer | Fleet management |

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