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Dubai’s Perla Group Eyes 2010 Nasdaq Listing

DUBAI — Dubai-based holding company Perla Group International plans to list on the Nasdaq Dubai in 2010 and is finalising an acquisition in the aviation sector, its chief executive said on Thursday.

The firm will first complete an initial public offering in Australia with a listing in February at the latest, Charles D’Alberto said. “Within six to twelve months we’ll be able to list on DIFX (now Nasdaq Dubai),” he said. “We’re Dubai- based, and long term we think Nasdaq Dubai will be an interesting market.”

D’Alberto said the firm, which has offices in Dubai, Afghanistan and Australia, is also looking at bolstering its financial strength through further acquisitions, following a recent buyout of Ukraine’s DB Aerocopter.

potential target is a Gulf-based aviation firm, valued at around $10 million, D’Alberto said, indicating the process is moving 
“quite rapidly.” Gulf IPO activity ground to a halt as a result of the financial crisis and only four Middle East companies listed in the third quarter of 2009, raising $872 million, according to a recent report by Ernst 
and Young . By contrast, 14 companies listed in the same period a year ago, raising 
$3.74 billion. Perla Group comprises four main divisions — Perla Telecoms, Perla Aviation, Perla Armored Cars, and Perla K-9 Service — according to its website. —