DP World share sale may commence today

DUBAI — DP World, the world's third-largest container port operator, plans to sell shares in an initial public offering that may begin as early as today, the Financial Times said, citing two people familiar with the plan.

By (Bloomberg)

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Published: Sun 21 Oct 2007, 9:05 AM

Last updated: Sat 4 Apr 2015, 11:29 PM

The Dubai-based company plans to raise $4 billion by selling 20 per cent of its shares to the public, valuing the entire company at about $20 billion, the newspaper said.

DP World will list on the Dubai International Financial Exchange, while a secondary listing on the London Stock Exchange is unlikely, the FT said, citing one of the people.

Millennium Finance, Merrill Lynch & Co., Deutsche Bank AG and Shuaa Capital PSC will be in charge of finding buyers for the stock in the first three weeks of November, the FT said.

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