May 25 2011 |
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DP World to trade on the London Stock Exchange
Wednesday, May 25, 2011
Dubai: Ports operator DP World will trade on the London Stock Exchange (LSE) for the first time on June 1, the company said yesterday.
DP World , a subsidiary of Dubai World, is currently listed on Nasdaq Dubai but shareholders have been concerned about liquidity levels on the bourse.
Prospectus
“This is the next step in the evolution of DP World ,” said Sultan Ahmad Bin Sulayem, DP World’s chairman. “Our investors have been seeking an alternative listing and we have now received formal approval from the UK Listing Authority for a premium listing on the London Stock Exchange.”
More widely, however, total trading volumes on the exchange fell by 15 per cent in 2010, reflecting a trend in Middle Eastern markets.
By Kevin Scott, Staff Report
© Gulf News 2011. All rights reserved.
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