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Dubai's Emaar says shareholders as of Sept. 10 to have priority in unit IPO
September 3, 2014 / 5:02 AM / 3 years ago

Dubai's Emaar says shareholders as of Sept. 10 to have priority in unit IPO

DUBAI, Sept 3 (Reuters) - Investors holding shares in Dubai’s Emaar Properties at the end of trading on Sept. 10 will qualify for priority allotment in the flotation of its mall unit later this month, the developer said on Wednesday.

Emaar plans to float at least 15 percent of its shopping malls and retailing unit on Dubai’s main stock market and will list the shares in October, it said on Sunday.

Ten percent of the offer will be reserved for Emaar Properties shareholders at the end of trading on Sept. 10, according to a bourse statement on Wednesday. (Reporting by Matt Smith; editing by Olzhas Auyezov)

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