DP World will delist to undergo a transformation
Dubai’s government decided that DP World’s parent company would purchase 19.55% of the Nasdaq Dubai-listed port operator’s floating capital.
18/02/2020 at 13h58, by Africa Business+
Port and Free Zone World, the subsidiary of state-owned holding company Dubai World and majority owner of DP World, will purchase these shares at $16.75 a piece, representing a 28.8% premium on its 16 February share price. DP World was listed in 2007 at $27 a share before the financial crisis took its toll on Dubai. The share price fell to $3.50 in early 2009 and has since gained ground, but has never returned to its IPO price.
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