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Emaar Properties to sell 25 pct of malls business on Dubai bourse
May 26, 2014 / 6:12 AM / 3 years ago

Emaar Properties to sell 25 pct of malls business on Dubai bourse

DUBAI, May 26 (Reuters) - Dubai’s Emaar Properties said on Monday it will list up to 25 percent of its malls business in a public offering on the Dubai Financial Market (DFM).

The builder of one the world’s largest malls - Dubai Mall - said it had received regulatory approval from the United Arab Emirates’ Securities and Commodities Authority to sell up to a quarter of Emaar Malls Group.

Company officials previously said there might be a dual listing on Nasdaq Dubai, the smaller of the emirate’s two exchanges, and on the London Stock Exchange.

Sources told Reuters in April that the developer is talking to regulators about the possibility of listing its shopping malls unit on the DFM.

Timing of the offering and listing would be announced later, the statement said. (Reporting by Praveen Menon; Editing by David French)

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