DP World Ltd., the port operator whose parent Dubai World is restructuring debt, said it will seek a listing on the London Stock Exchange as the company tries to boost investor perception of its value.
“We will seek admission for listing in the second quarter of 2010,” the company said today in a statement. DP World said it conducted an “extensive” review with advisers and shareholders before making the decision.
The Middle East’s largest port operator said in March that it would evaluate options to address “continued disappointment” with its valuation on the Dubai market. DP World advanced 4.3 percent to 0.44 cents as of 4:44 p.m., giving it a valuation of $7.34 billion. The stock rose 10 percent last year after falling 68 percent in 2008.
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