Dubai logistics firm Tristar drops IPO plans

DUBAI: Logistics firm Tristar has dropped plans for an initial public offering (IPO) in Dubai, with sources saying the deal did not attract enough investor demand.
The move, which confirms what the sources had earlier told Reuters, is a setback for Dubai’s bourse, the Dubai Financial Market, which has not seen a big ticket listing since 2017.
The company said “its board and existing shareholders have decided to withdraw its planned initial public offering on the Dubai Financial Market as existing shareholders’ expectations were not met.”