Dubai’s Emaar Says Shareholders As of Sept. 10 To Have Priority In Unit IPO

Investors holding shares in Dubai’s Emaar Properties at the end of trading on September 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 per cent 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 per cent of the offer will be reserved for Emaar Properties shareholders at the end of trading on September 10, according to a bourse statement on Wednesday.