Emaar slips as mall IPO date remains open
The Dubai Financial Market General Index advanced by 0.17 per cent to reach 4,813.06 points on Thursday, August 14. Emaar fell by 0.50 per cent to AED10.05. Earlier in the day, the biggest developer in the UAE revealed that media reports claiming it would float its mall and retail division by mid September were pure speculation. However, Emaar would inform the public about the planned initial public offering shortly.
Gulf Finance House or GFH was the most liquid share and edged up by 1.14 per cent to hit AED0.531. Earlier in the day, the Bahrain-based Islamic investment bank reported its net profit for Q2 2014 as $9.5 million against $2.7m achieved in Q2 2013.