Built to inform

Sign up for the daily newsletters

No, Thank you

Update: Emaar to offer 20% stake in real estate subsidiary

Emaar Properties is preparing to offer 20% of shares in its real estate arm, Emaar Development, it said on Sunday as a clarification to earlier reports that it would sell a larger stake

The IPO is scheduled to take place in early-November.
The IPO is scheduled to take place in early-November.

Emaar Properties is preparing to offer a 20% stake in its real estate arm, Emaar Development, it said on Sunday as a clarification to earlier reports that it would sell a larger share.

The UAE-based developer announced on Sunday that it had approved up to 30% shares to be raised in an Initial Public Offering expected to take place next month. 

READ: Emaar Properties approves IPO of real estate arm

According to a later Dubai bourse filing, the company said that it “would like to clarify that approval of the shareholders of Emaar Properties have been obtained to offer up to 30%” but that Emaar will only offer and sell 20% of the shares.

Earlier reports said the IPO is scheduled to take place in early-November, according to Mohamed Alabbar, Emaar's chairman.

This will be the first major listing on the Dubai Financial Market in three years since Emaar Malls became publicly listed in 2014.

 

Most popular

Awards

Go for gold at the 15th Construction Week Awards in December 2019!
Winners will be crowned under 14 categories at a gala ceremony in Dubai – are

Conferences

Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power
Leaders Kuwait 2018: New Kuwait 2035 needs smart city-led contracts
Localisation and contract modernisation are essential for Kuwait's diversification strategy

Latest Issue

Construction Week - Issue 741
May 11, 2019