DP World linked to London IPO
DP World is being linked with the possible sale of shares on London's stock exchange, with the company hoping to join the FTSE 100 index of shares.
UAE local newspaper The National reported on the possibility that DP World might use the London listing to increase liquidity and raise capital. In response the share price jumped up by 4.9%.
Further, rumours suggest that parent company Dubai World will sell part of the 77% stake it holds in DP World, while at the same time a new rights issue will be undertaken on the London exchange. Dubai World is about to present a plan on repaying $26 billion in debt that came about from the crash in its large property holdings, Limitless World and Nakheel.
In total up to 35% of DP World may well end up in the public domain.
If (as it seems) the process for a London listing is in its early stages, DP World and its advisers Deutsche Bank and Citigroup, are going to be pushed for time to finalise the complex mechanism before July. If this opportunity is missed, the next time the shares can be floated will be in September, after DP World’s interim results.
A.P. Moller - Maersk is an integrated Transport and Logistics company with multiple brands and is a ... Read more
We are looking for an experienced and talented Digital Marketing Executive to join our award winning... Read more
Graduates, interns and placements are key to the overall success of CH2M. We invest in initial caree... Read more
Here at British Steel we’re looking for passionate, hard-working, ambitious and dedicated people who... Read more