Aljazeera- WEDNESDAY, NOVEMBER 21, 200714:26 MECCA TIME, 11:26 GMT
Dubai has sold $4.96bn of shares in port operator DP World in theMiddle East’s biggest initial public offering (IPO).The emirate’s sale of 23 per cent of shares in the company valued the world’s fourth-largest container handler at $21.58bn.
With the takeover of British port operator P&O last year for $6.8 bn and DP’s aggressive operating expansion at the rate of 9.8% per year, will the Gulf shipping barons dominate the seas? Voice your thoughts.
Filed under: IPO, Top Stories in Business
