UAE's Aabar delisting plan unsettles investors

Wed Jun 23, 2010 10:42am GMT

* Analysts say being private suits Aabar's strategy

* Company seen taking advantage of low share price

* Minority investors confused by company move

* Investment firm has stakes in Daimler and Virgin Galactic

By Dinesh Nair and Stanley Carvalho

ABU DHABI, June 23 (Reuters) - State-owned fund Aabar AABAR.AD has always stood out for its rapid growth and high-profile purchases but the world's only listed sovereign wealth fund is now making investors nervous with its plans to go private.

Aabar, majority-owned by the government of Abu Dhabi, shocked investors on Monday when it announced it was considering delisting from the Abu-Dhabi bourse and converting to a private joint stock company. [ID:nWEA6884]

Aabar thus would move from being one of the most transparent sovereign funds, most of whom operate in complete secrecy, back into the shadows and become the first delisting of a local firm from the Abu Dhabi bourse.   Continued...

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