| Kippreport.com

DP World plans London listing

January 6, 2010 5:23 by kippreport

Dubai-based port operator DP World is planning to list its shares on the London Stock Exchange by the second quarter of the year, reports Reuters. The company listed on Nasdaq Dubai in November 2007, but its share price has fallen around 67 percent since then.

“After an extensive period of review with advisers, and discussions with shareholders, the board of DP World has decided to seek a premium listing on the London Stock Exchange whilst maintaining the existing primary listing on Nasdaq Dubai,” DP World said in a statement.

“In March 2009 the board … stated it would evaluate all available options to address its continued disappointment with the markets valuation of the company,” it added.

Tags: DP World, listing, market, shares