Emaar Malls IPO: Is Dubai Back?:
"The forthcoming listing of Emaar Malls in Dubai will be a big moment for the Emirate, and not just because of the potential size of the deal. It raises the question: does this mean Dubai is back?
As I argue in Euromoney today, the news that Emaar Malls Group is to launch its IPO in Dubai “has several layers of significance. First, it’s a big state-backed stock in a smallish market; second, it’s a handy barometer of Dubai’s revival; third, it has technical innovation; and fourth, it shows a rare level of faith in the liquidity of local markets over the usual procession to the London Stock Exchange.”
Let’s take each of those claims in turn so I can explain what I’m on about."
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