DUBAI: Dubai’s Emaar Properties plans to list its shopping malls and retail unit in both Dubai and London, the company’s chairman Mohamed Alabbar was quoted as saying yesterday.
“This will be a dual listing. We are a Dubai company so we have to be in Dubai, but we will list in London. I would like to do this quickly and am shooting for before Ramadan,” Arabian Business magazine quoted Alabbar as saying in an interview.
In Dubai, the listing will occur on Nasdaq Dubai, the smaller of the emirate’s two stock exchanges, Alabbar was quoted as confirming in the interview.
Asked to comment on the report, an Emaar spokesperson said: “Emaar is planning a proposed secondary listing of up to 25 percent of the shares of Emaar’s malls business in the next one year, depending on market conditions.”
On Saturday, Dubai’s largest listed property developer said it would list 25 percent of its shopping malls and retail unit in a public offer expected to raise between DH8-9bn. Reuters
