DP World , majority owned by Dubai World, the Dubai government conglomerate, is on track to list some of its shares on the London Stock Exchange in the second quarter after postponing its plans last year, the company's top executive said Tuesday, The Wall Street Journal reports.
"We are still on track for Q2; we are on track regarding the London listing by the end of the first half of 2011," DP World Chief Executive Officer Mohammed Sharaf said on a conference call with the media.
DP World, which is already listed on the Nasdaq Dubai stock exchange, said in late June that plans for a London listing had been delayed caused by the need to find "an acceptable system that supports the dual listing."
The port operator said earlier Tuesday throughput at its ports worldwide increased 10% year on year in 2010 on a like-for-like basis--excluding contribution from Callao, Peru which became operational in 2010 and Saigon, Vietnam which became operational in the third quarter of 2009--mainly driven by growth in the Australia, America and Asia-Pacific regions.
"We are still on track for Q2; we are on track regarding the London listing by the end of the first half of 2011," DP World Chief Executive Officer Mohammed Sharaf said on a conference call with the media.
DP World, which is already listed on the Nasdaq Dubai stock exchange, said in late June that plans for a London listing had been delayed caused by the need to find "an acceptable system that supports the dual listing."
The port operator said earlier Tuesday throughput at its ports worldwide increased 10% year on year in 2010 on a like-for-like basis--excluding contribution from Callao, Peru which became operational in 2010 and Saigon, Vietnam which became operational in the third quarter of 2009--mainly driven by growth in the Australia, America and Asia-Pacific regions.