Dubai port operator DP World has completed a consolidation of its 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.
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