Zara Operator Backed by Dubai Ruler’s Firm Said to Pause IPO

The operator of Zara clothing and Virgin Megastore chains in the Middle East has paused plans for an initial public offering to focus on its business operations, according to people familiar with the matter.

Azadea Group’s decision to delay the listing is not related to the market volatility triggered by US President Donald Trump’s tariff policies, the people said, requesting anonymity to discuss confidential information.

The Beirut-based retailer is weighing entry into new Middle Eastern markets and expanding operations in existing ones before proceeding with a public offering, one of the people said.

Azadea had previously invited banks to ...