EFS Facilities Service (EFS) plans to take its UAE business public, with the company targeting the end of this year or the start of next year for a listing on the Dubai bourse, its group chief executive said yesterday (May 7).

Discussions with the Securities and Commodities Authority, are in advanced stages, EFS chief Tariq Chauhan said, adding the company that the size of the initial public offering has not been finalised, nor whether it will sell new shares, stock already owned by existing shareholders or a combination of both, said a report in the Gulf Daily News (GDN), our sister publication.

EFS, which offers a wide range of facilities management services across numerous sectors, operates in 19 countries across the Middle East, Africa and South Asia, Chauhan said. - TradeArabia News Service