Mubadala invests record amount in 2020, eyes aluminium IPO: CEO

Mubadala invests record amount in 2020, eyes aluminium IPO: CEO

Mubadala CEO says that Emirates Global Aluminium is well-placed for an initial public offering. WAM



Abu Dhabi state investor Mubadala invested a record amount in 2020 as it doubled down on growth sectors, and is close to making a decision on the listing of Emirates Global Aluminium (EGA), said Khaldoon Khalifa Al Mubarak, Chief Executive Officer of Mubadala on Monday.

“We've invested more in 2020 than we have ever done in any one year prior to that,” Khaldoon Khalifa Al Mubarak told a virtual event organised by Bahrain's Investcorp.

Mubarak did not disclose the figure.

He said Emirates Global Aluminium, which is owned by Mubadala and Investment Corp of Dubai, is well placed for an initial public offering.

“This company is now a very mature business, a very well-placed business for growth. It's cost base is in the lowest quartile...it's a great business,” he said.

A plan to list EGA