DP World Ltd. shares in London were trading at a premium of 1.7 percent to yesterday’s closing price on Nasdaq Dubai as the Dubai World-controlled company’s stock debuted on the London Stock Exchange.
The shares were at 830 pence at 8:58 a.m. in the British capital after gaining to as much as 880 pence. The stock rose 1.3 percent to $13.63 on Nasdaq Dubai, reversing a decline of as much as 1.9 percent. They closed at $13.45 yesterday.
DP World, which operates ports from Europe to Asia, cross- listed 830 million ordinary shares to attract investors after low trading volumes in its home market. "The aim is to provide an additional platform to invest in DP World shares to help attract a broader range of investors," it said today.
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