120108_dubai_mall

Emaar retail listing plans boost Dubai market

: Sunday, March 16 - 2014 @ 15:58

The Dubai Financial Market General Index (DFMGI) advanced by 1.96 per cent, closing at 4,058.77 points on Sunday, March 16. Emaar rallied 4.85 per cent to reach AED9.08. On Saturday, Emaar revealed plans to list shopping malls and retail businesses. Emaar will list up to 25 per cent of the Emaar Malls Group equity through a secondary offering of shares. The funds raised through the sale of 25 per cent of the company, estimated to be between AED8 billion to AED9bn (more than $2bn to $2.4bn), will be primarily distributed as dividend to the company’s shareholders. Gulf Navigation lost 4.44 per cent, falling to AED0.452. Approximately 646 million shares were traded, valued at AED1.593bn.

Gérard Al-Fil

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Sunday, March 16- 2014 @ 15:58 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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