Able Logistics Group, an integrated provider of freight forwarding, land transportation and warehousing services with a network of operations in the Middle East and Asia, today appointed Shuaa Capital as the exclusive financial advisor, lead manager and bookrunner for its initial public offering to take place on the Dubai Financial Market in 2014.

Established in 2001, Able has evolved from an airfreight forwarder into a major transport and logistics group that caters to the growing needs of government agencies, multinational corporations and conglomerates operating in Asia, Europe, Africa and the Middle East. Able operates three core business lines: air cargo services, land transport, and warehousing & logistics.

The company is headquartered in the UAE with offices in Dubai, Abu Dhabi and Sharjah as well as international presence in Saudi Arabia, Oman, Iraq, Afghanistan, Hong Kong and China.

Sheikh Maktoum Hasher Al Maktoum, executive chairman of Shuaa Capital said: “We are delighted to be mandated by Able to run the company’s IPO process. Able is a real economy business that offers market participants exposure to a company that benefits directly from Dubai’s position as a global trading hub and increased cross-border economic activity between Asia, the Middle East and Africa. The company is very well positioned to continue to benefit from regional infrastructure expansion, such as airport and seaport extensions, and major developments like Dubai’s Expo 2020.”

Dr Ghanem Al Hajiri, executive chairman of Able, commented: “We have a very talented management team that has delivered on the consistent growth strategy of Able, building one of the leading logistics groups in the UAE. We believe that a public listing will enable us to accelerate our growth plans and achieve our ambition to build a strong brand that is renowned globally.” - TradeArabia News Service