The Incredible Mulk

It will form part of the ongoing discussions and plans to restructure the company ahead of some big decisions to be made about Mulk Holdings.

“Our plan for the next three years, we would like to invest about $500m more across the businesses,” says Mulk, with a focus primarily on healthcare and the power industry.

In order to carry out those growth plans, finance will be required, and Mulk says he’s considering a couple of options — either an IPO or a private equity investment.

“I think we’ll need at least two years more for an IPO or private equity — either of the two. We’re looking at both.

It will form part of the ongoing discussions and plans to restructure the company ahead of some big decisions to be made about Mulk Holdings.

“Our plan for the next three years, we would like to invest about $500m more across the businesses,” says Mulk, with a focus primarily on healthcare and the power industry.

In order to carry out those growth plans, finance will be required, and Mulk says he’s considering a couple of options — either an IPO or a private equity investment.

“I think we’ll need at least two years more for an IPO or private equity — either of the two. We’re looking at both.

“We’ve already had many, many offers from very serious people for participation in a private equity deal for up to 30 or 40 percent of the group, or even Alubond or just the power sector. There are various options available for us. We are looking at all that.

“My thought process is that we will wait for another two years, or at least the end of 2015, and set a proper governance in place. We’re in the process of that at the moment,” he says.

“Our growth has been really much more than we anticipated it to be over the last two years. New companies and new divisions have been set and they all need a lot of proper management to be put in place.

“The investments would really make sense to take the group forward. If an IPO doesn’t make sense, or if we’re not ready for that, I would definitely go for private equity and letting [go of] a minority stake in some of the companies,” he adds.

Mulk’s wife Farha, who works in the finance and the administration side of the business, and son Adnan are both vice chairpersons of the company, and while he agrees that Adnan is the natural successor as chairman of the company, he says Mulk Holdings needs to introduce a new structure in order to be ready for a possible IPO.

Part of the new structure will also see Mulk Holdings bring in an independent CEO.

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