Ambitions Enterprise Management, a Dubai-based tour operator and travel agency, filed on Friday with the SEC to raise up to $12 million in an initial public offering.
Through subsidiaries in the UAE, Ambitions operates as a tour operator, travel agency, and provider of event planning and management services. The company primarily provides two lines of services: MICE (meetings, incentives, conferences, and exhibitions) management, and one-stop tourism. Ambitions currently provides travel services in the UAE, Jordan, Qatar, Bahrain, Kuwait, Saudi Arabia, and Oman.
The Dubai, United Arab Emirates-based company was founded in 2006 and booked $22 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol AHMA. Ambitions Enterprise Management filed confidentially on March 12, 2024. AC Sunshine Securities and Univest Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
