DUBAI: Dubai's port operator said it plans to list its shares on the London Stock Exchange, aiming for additional investors as its troubled parent Dubai World struggles to dig out from a pile of debt.
DP World said it could seek the listing as early as the second quarter of 2010. The cargo handler ranks as one of the world's biggest container terminal operators, running the Middle East's largest port in Dubai and 48 other seaports around the world.
The company said the decision follows a review launched last March to "evaluate all available options to address its continued disappointment with the market('s) valuation of the company."
Its parent Dubai World is being restructured and is negotiating with creditors to rework the terms of $26 billion in debt. The conglomerate has said that DP World is not part of that process.
No comments:
Post a Comment