Tag: Middle East and Africa

  • Al Fakher Considering Going Public

    Al Fakher Considering Going Public

    Credit: Nomad Soul

    The Dubai-based shisha manufacturer Al Fakher has hired Rothschild and Co. to advise on strategic options, including a possible initial public offering, two sources familiar with the matter said, reports Reuters.

    An IPO would take place in the region, either on Saudi Arabia’s Tadawul or the Abu Dhabi Securities Exchange, the sources said.

    Al Fakher is owned by Advanced Inhalation Rituals, a private company that is majority owned by London-based Kingsway Capital.

    Al Fakher, which was founded in 1999, makes flavored shisha molasses for use in hookah and is sold in more than 100 countries, according to its website.

    Middle East companies bucked global trends last year to raise about $22 billion through IPOs, according to Dealogic, which was more than half the total for the wider Europe, Middle East and Africa region.

  • Conference scheduled

    Conference scheduled

    The 2019 Middle East and Africa Duty-Free Association (MEADFA) Conference is scheduled to be held in Muscat, Oman, on November 25 and 26, according to a press note issued by the Tax-Free World Association (TFWA).

    ‘Managed by TFWA and hosted by Muscat Duty Free, the 18th MEADFA Conference will provide an essential learning and networking opportunity for those already operating in or looking to do business in one of duty-free and travel-retail’s most dynamic regions,’ the note said.

    The previous MEADFA Conference, held in Beirut in November last year, attracted 442 delegates from 35 countries.

    “After our very successful event in Beirut last year, we are delighted to bring the MEADFA Conference to Muscat, where delegates will have the opportunity to visit one of the region’s best new airports,” MEADFA president Haitham Al Majali was quoted as saying.

    Meanwhile, Muscat Duty Free general manager Martin Mullen said the Conference presented a great opportunity for all duty-free and travel-retail professionals looking to learn about the latest developments in this burgeoning market.

    The MEADFA 2018 review is available on the TFWA website at: https://www.tfwa.com/the-meadfa-conference.

    Details of this year’s event are due to be announced soon on the TFWA and MEADFA websites.