DP World Records in London Plan
Finance September 13th, 2009
A leading global port operator DP World, part of the conglomerate Dubai World said Wednesday financial difficulties, will seek listing of shares on the London Stock Exchange. In March 2009 the board of directors said “will evaluate all options available to overcome the disappointment continued with the company’s market valuation.”
After discussions with advisers and shareholders, a statement said the board “decided to seek a premium listing on the London Stock Exchange, while maintaining the existing primary listing on the Nasdaq Dubai. We consider that we will try to go to keep records in the second quarter of 2010.
“Council remains committed to its shareholders in the region and believe that they will also benefit from this step,” the statement concluded. DP World recorded a net profit increase 48 percent in 2008 to 621 million dollars (431 million euros), on revenues jumped 20 percent to 3.283 billion dollars.
