Dubai Ports World on Course for a $2 Billion Share Listing ; In Brief

DUBAI Ports World, the world’s third-largest container port operator which last year bought PO for $6.85 billion (3.4 billion), is expected to sell $2 billion of shares in an initial public offering and list the stock in Dubai. The Dubai government-owned company last year hired Deutsche Bank and Merrill Lynch to advise on a possible IPO, according to the Middle East Economic Digest. A DP World spokeswoman said today that the company had several financing options available to it, including a float or bond sale. “No decision has been made yet,” she said. The company’s position on an IPO appears to have softened since last month when chairman Sultan Ahmed bin Sulayem said a listing “is not an option now”.

(c) 2007 Evening Standard; London (UK). Provided by ProQuest Information and Learning. All rights Reserved.