DP World consolidates shares – Emirates 24/7

DP World consolidates shares

Investors given one share in exchange for every 20 they own

Published Thursday, May 19, 2011

Dubai port operator DP World has completed a consolidation of itsm shares that effectively raised its stock price ahead of a planned listing in London.

The consolidation Thursday gave investors one share in exchange for every 20 they own, boosting the stock price by 20 times.

DP World has said the move gives it an earnings-per-share ratio that better reflects the value of the company. It plans to launch an additional listing for its shares on the London Stock Exchange this year.

DP World is the world’s third-largest port operator, with operations at 49 cargo terminals worldwide. Its shares closed at the consolidated price of $13.90 apiece Thursday.

via DP World consolidates shares – Emirates 24/7.

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