Gulf families not prepped for rigours of IPO – Mishal Kanoo

Gulf families are not willing to take their businesses public because it is too painful, Kanoo Group deputy chairman Mishal Kanoo told Arabian Business. Few privately-owned Gulf businesses have launched an initial public offer (IPO) in recent years, particularly since the 2008-09 economic downturn. Kanoo, whose six-generation-old conglomerate also has…