DP World marks 10-year listing on Nasdaq Dubai
(1/10/2018 5:56:00 AM)
DP World marked on Tuesday its 10-year public listing on Nasdaq Dubai with a ceremonial event at the Dubai Financial Market (DFM), attended by Sultan Bin Sulayem, Chairman and CEO of DP World, Essa Kazim, Governor of the DIFC and Chairman of DFM and Hamed Ali, CEO of Nasdaq Dubai.
DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem, said: “The listing on Nasdaq Dubai has been instrumental to our growth history. It has given us access to the top global and regional institutional investor base and the retail community. We have grown from 42 terminals in 22 countries before the listing to almost double with 78 terminals in 40 countries within a decade, while profits have risen from $440 million to over $1bn during this period. We ended the year as the largest listed company in Dubai with a market capitalisation of US$ 21 billion and are also the largest listed global port operator worldwide. DP World was also the first UAE-based listed company on Nasdaq Dubai and continues to set new benchmarks to develop regional capital markets and to position Dubai as the capital of the Islamic economy globally. I would like to take this opportunity to thank Nasdaq Dubai and our shareholders for their support and continued commitment in our growing success.”
The DP World share price reached $25 at the end of 2017, a 10-year high having risen 43% in the year on the back of strong container volume growth. This makes DP World the best performing Large-Cap stock in the UAE, significantly outperforming local indices.
Chairman of Nasdaq Dubai Abdul Wahed Al Fahim, said: “Nasdaq Dubai is delighted to have hosted DP World throughout its impressive growth and development during its 10 years as a listed entity, with more than 11 billion US dollars in share trading by UAE, regional and international investors. As the region’s international exchange providing high global visibility, we look forward to further strengthening our relationship with DP World as one of Dubai’s flagship companies.”
The Gulf Today