In an interview, Hassan El-Houry stated that for an initial public offering (IPO) to occur within the next three years, Menzies needs to strengthen its global operations, fill geographical gaps in its portfolio, and integrate the recently acquired U.S.-based G2 Secure Staff LLC.
Menzies Aviation operates in Portugal following its investment in SPdH, formerly Groundforce, and is currently awaiting the decision on a license allocation tender that is currently not in its favor.
“At present, we are happy to be a privately held company, but I think any move that creates or generates value for shareholders will be taken seriously,” he stated during an interview at Menzies’ London office. “A stock market listing could unlock value, and we might consider it in a few years,” he noted.
El-Houry did not specify which stock exchange Menzies might be listed on, acknowledging that markets will change over the next three years.
The company was listed on the London Stock Exchange before being acquired by Kuwait’s Agility Public Warehousing Co. in 2022.
“An initial public offering is an option, but it is certainly not the only one,” said El-Houry.
Meanwhile, Menzies plans to expand in Central and Southeast Asia, and the Americas, according to the chairman. The company is seeking potential acquisitions in the same sector, he indicated.
Formerly known as John Menzies, the company provides ground handling services, cargo services, and aircraft fueling in 65 countries and 350 airports.
