DP World to delist and return to private ownership

DP World is to delist from Nasdaq Dubai, with its parent company offering to acquire the 19.55% of its shares currently traded there, returning the port operator to private ownership.

The move is meant to enable the company to focus on its medium-to-long-term strategy of transforming from a global port operator to an infrastructure-led end-to-end logistics provider.

According to the operator’s group chairman and CEO, Sultan Ahmed bin Sulayem, returning to private ownership will free it “from the demands of the public market for short term returns which are incompatible with this industry”.