Majid Al Futtaim Denies Stake Sale and IPO Rumors, Reaffirms Private Ownership
Dubai Conglomerate Denies Speculation of Ownership Change
In a firm rebuttal to widespread media speculation, Majid Al Futtaim (MAF) Holding has categorically denied that it is exploring a stake sale, an Initial Public Offering (IPO), or any changes to its ownership and governance structure.
The denial comes in response to reports from outlets like Bloomberg, which suggested that government-appointed officials at the family-owned group were considering strategic options, including a potential stake sale or a full public listing.
Official Statement: “Claims Are Inaccurate and Unfound”
In an official statement, the company left no room for ambiguity. “Majid Al Futtaim categorically refutes any claims of stake sales, business sell-offs, or changes to our governance or ownership structure; any reports alleging otherwise are entirely inaccurate, unfounded, and misleading,” a company representative stated.
MAF emphasized that it remains a privately owned entity operating under an independent board, with a clear long-term strategy and no planned alterations to its shareholding or corporate makeup.
Background of the Speculation
The rumors gained traction against the backdrop of the group’s recent governance history. Following the passing of its founder in 2021, a Dubai judicial committee was established to oversee a smooth board restructuring. This external oversight, coupled with governance changes at its parent capital entity earlier in 2025, fueled market speculation that the conglomerate might be preparing for a significant capital restructuring or an exit strategy.
Strategic Implications of the Denial
By issuing a strong and public denial, MAF achieves several key objectives:
Focus on Operations: It allows the company to redirect attention to its core business strategy, which includes expanding its portfolio of malls, hospitality, and entertainment assets without the distraction of an IPO narrative.
Reassurance for Stakeholders: The statement reassures family shareholders, employees, and partners that the group’s long-term vision remains intact and that control will not be diluted.
Financial Confidence: The denial highlights that the company does not require public markets for funding, a fact recently demonstrated by a highly oversubscribed hybrid bond issuance that showed strong investor confidence in its financials.
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The Bottom Line: Business as Usual
For the market and its stakeholders, the message from Majid Al Futtaim is one of continuity. One of the Gulf’s largest private-sector conglomerates will continue to pursue its growth agenda on its own terms, maintaining its status as a privately held, family-owned group focused on long-term value creation in the retail, real estate, and leisure sectors.
