Gems to delay IPO over Dubai move

Gems Education, the Dubai-based school operator backed by Blackstone Group, is planning to delay an initial public offering after the local government unexpectedly said it would freeze school fees, according to people with knowledge of the matter. The closely held company is studying the potential impact on its earnings projections following the authorities’ decision to keep private school fees unchanged for a year, the people said. Gem may revisit the share offering later in 2018 or consider selling a stake.