DP World ‘to consider partial floatation’

DP World owns 42 ports worldwide, and is wholly owned by the Dubai Government. In the event of a partial float, the government would retain control of the group, selling a minority stake. Under such a scenario, it is thought that DP World would be seeking to raise around $2 billion from the float.

Last year, the company shelved plans for a London floatation in the face of volatile market conditions. It was thought that DP World was planning to sell 20% of the group, in a move that would have valued the group at about $12 billion. It had appointed Merrill Lynch and Deutsche Bank to handle the sale.

Any new partial flotation of the company would probably involve some of the shares being listed on the new Dubai International Financial Exchange (DIFX). However, it is not known whether the banks are reconsidering a London listing.