Emaar's property development business valued at $6.5 billion ahead of Dubai IPO: sources:
"The real estate development business of Emaar Properties EMAR.DU, which is being listed in an initial public offering (IPO) in Dubai, is expected to be valued at 24 billion dirhams ($6.5 bln), two people familiar with the deal said.
The valuation is based on the assets Emaar plans to inject into the listed vehicle, the sources said. In a bourse filing last week the company listed the assets it plans to transfer to the new vehicle.
An Emaar spokeswoman said the estimate is only a net asset projection by a third-party valuer."
'via Blog this'
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