- Marine terminal operator joins the Main Market today
- Company takes dual listing with Nasdaq Dubai
- DP World becomes third Middle Eastern company to join Main Market in four weeks
The London Stock Exchange Group (LESG) today welcomes DP World to the Main Market. DP World, one of the largest marine terminal operators in the world, which is already listed on the Nasdaq Dubai exchange, has chosen to undertake a dual listing in London in order to gain access to a wider range of investors.
Xavier Rolet, Chief Executive Officer of the London Stock Exchange Group, said:
“We are delighted to welcome DP World to the London Stock Exchange. As a dual-listed company they will gain access to the world’s most international market as well as an unrivalled source of deep liquidity and new investors. This listing underlines London’s perennial attractions to companies with global reach and ambitions.”
Sultan Ahmed Bin Sulayem, Chairman of DP World commented:
“Today marks another milestone in our history as DP World becomes the first Dubai Company to obtain a Premium listing on the London Stock Exchange. This is a very proud day for the Board and Management of DP World.”
Mohammed Sharaf, Chief Executive Officer commented:
”DP World is the only listed global port operator and we are delighted to be listed on the London Stock Exchange offering more investors the opportunity to invest in our unique company.”
All of DP World’s 830 million Ordinary Shares have been admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities.
This values the company at approximately £7 billion. Though the company will not raise any new funds, existing shareholders will have the option of holding shares in Dubai or London.
The listing of DP World brings the number of Middle Eastern companies listed on the London Stock Exchange to 41 with a total market capitalization of £6.2 billion. In the last ten years, companies in the region have raised £2.9 billion in London.
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Notes to editors: