Dubai Health-Care Startup Plans $476 Million Gulf Spending Spree
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Amanat Holdings, the Dubai startup that’s selling shares to the public this month, plans to spend about 1.75 billion dirhams ($476 million) buying stakes in three to six health-care and education companies.
The company will devote 70 percent of its 2.5 billion-dirham capital to make the investments in the next 12 to 14 months, Chairman Faisal Bin Juma Belhoul said at a news conference in Dubai today. Amanat will target acquisitions mainly in Saudi Arabia and the United Arab Emirates, the two largest economies in the Gulf Cooperation Council, he said.