Rothschild to advise tobacco maker Al Fakher on strategic options

Middle East
21-03-2023 | 07:17
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Rothschild to advise tobacco maker Al Fakher on strategic options
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Rothschild to advise tobacco maker Al Fakher on strategic options

The owner of Dubai-based tobacco business Al Fakher has hired Rothschild & Co to advise it on strategic options, including a possible initial public offering, two sources familiar with the matter said.

An IPO would take place in the region, either on Saudi Arabia's Tadawul or the Abu Dhabi Securities Exchange, the sources said.

Al Fakher is owned by Advanced Inhalation Rituals, a private company that is majority owned by London-based Kingsway Capital.
 
Rothschild and AIR declined to comment.

Al Fakher, which was founded in 1999, makes flavoured shisha molasses sold in more than 100 countries, according to its website.

Middle East companies bucked global trends last year to raise about $22 billion through IPOs, according to Dealogic, which was more than half the total for the wider Europe, Middle East and Africa region.
 

Rothschild

Hired

Tobacco

Company

Dubai

Saudi Arabia

Al Fakher

Strategic

Options

Business

Consumers

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