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DP World postpones London float
Tue, 07 Feb, 2012
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DP World postpones London float
Mon, 28 Jun 2010, 06:55:00
<b>DP World</b>, one the World's largest ports group, has scrapped its plans to float in London this year. The group, which owns P&O and the London Gateway, said it remains committed to listing the its shares on the London Stock Exchange, but has dropped the plan until an acceptable dual system that also supports its current listing in Dubai is available. "The next practical window of opportunity to seek admission for listing would be following the publication of Audited Financials for the year ending 31st December 2010," it added. DP World is 80% owned by Dubai World, the company at the centre of the financial crisis that hit caused chaos in the Gulf and World markets last year when it threatened to default on its bonds. Disappointment with the value put on its shares in Dubai was one of the reasons it had looked at a London float. A London listing was also expected to raise cash for its parent with analysts suggesting that would be good demand for a return to London of P&O.
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