Tuesday 23, October 2018 by Kudakwashe

Mubadala waiting for right time to revive Cepsa IPO, says CEO

 

In October, the firm announced the suspension of the listing to raise about $2.3 billion by selling 25 per cent of Cepsa.

The Chief Executive of Mubadala Investment Company has announced that the firm was waiting for the right time to revive the listing of Spanish oil company Cepsa.

Speaking at the Riyadh Future Investment Initiative (FII) summit, Khaldoon al-Mubarak, the CEO of Mubadala said that they felt that postponement of the initial public offering (IPO) could result in better valuation.

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