FIVE parent plans IPO

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Five Holdings Ltd, the luxury brand operator behind FIVE, is planning an initial public offering (IPO) in Dubai, with potential consideration for a listing in London, according to the company’s chairman.

Kabir Mulchandani, Chairman and founder of Five Holdings, revealed that a Dubai IPO is part of the company’s long-term strategy, with an eye on 2025 for the offering. The possibility of a London listing is also being explored.

Five Holdings, previously known as SKAI Holdings before rebranding in 2017, intends to target a primary listing in Dubai, given its status as a “Made in Dubai” brand. Although a London listing is under consideration, Dubai is the likely choice due to the growth in the emirate’s capital markets.

The company operates several luxury properties, including FIVE Zurich and FIVE Jumeirah Village. Notably, at FIVE Palm Jumeirah in Dubai, guests have the option to drive a supercar into the nightclub for a fee of AED 10,000 ($2,723). Earlier this year, the hotel group introduced private jet parties, which come at a cost of up to $14,000 per hour.

Nasdaq Dubai recently announced the debut listing of Five Holdings’ green bond, valued at $350 million. This move reflects the company’s commitment to sustainable finance and aligns with the broader trend of environmentally responsible investments in the financial markets.