GEMS mulls delaying IPO after fee freeze

GEMS

Education, the Dubai-based school operator backed by Blackstone Group LP, 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 firm 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, asking not to be identified because the matter is private. (Bloomberg)