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DP World posts record high trading turnover
- United Arab Emirates: Tuesday, September 15 - 2009 at 17:36
Shares of the fourth biggest container port operator Dubai Ports (DP) World posted the third highest daily trading volume ever and closed 3.97% higher at $0.497. Some 86 Million DP World shares changed hands at the NASDAQ Dubai. The board of DP World today denied media reports that it has been negotiating a potential sale of a stake. Discussions between DP World's parent company Dubai World and a regional private equity player were reported on May 10 2009 but 'these discussions are no longer ongoing', the port operator says, finishing today's press statement that it has nothing further to add on the issue. Australia's Boulder Steel plummeted 19.77% and closed at $0.138 after it announced its intention to voluntarily delist its shares from the NASDAQ Dubai within 60 days. The firm has attributed its decision to low turnover on the exchange and the compliance costs of maintaining the listing.
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Gérard Al-Fil, Financial JournalistTuesday, September 15 - 2009 at 17:36 UAE local time (GMT+4)
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This article was updated on Wed Sep 16 2009.
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