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DP World LSE listing may prompt stake sale

Dubai, May 12, 2011

DP World's planned dual listing on the London Stock Exchange may prompt a stake sale by majority shareholder Dubai World, a report by investment bank J P Morgan said.

State-owned conglomerate Dubai World owns 80 per cent of the port operator, which is considered one of its more profitable assets.

'This (London listing) remains a key milestone in clearing the path to an improved liquidity through a broader investor participation and/or potential selling by majority shareholder Dubai World,' the report, dated May 11, said.

DP World said on Thursday that it would list on the LSE by end of May or Early June. The company said a one-for-20 share consolidation will take effect from May 19 adding that its free float would remain unchanged at 19.55 per cent. -Reuters




Tags: Dubai World | DP World | London Stock Exchange | port operator | listing |

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