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Wed 3 Sep 2014 10:49 AM

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Dubai's Emaar says shareholders to have priority in unit IPO

10% of the offer will be reserved for Emaar Properties shareholders when developer float 15% of its shopping malls and retailing unit next month

Dubai's Emaar says shareholders to have priority in unit IPO
(AFP/Getty Images)

Investors holding shares in Dubai's Emaar Properties at the end of trading on September 10 will qualify for priority allotment in the floatation of its mall unit later this month, the developer said on Wednesday.

Emaar plans to float at least 15 percent of its shopping malls and retailing unit on Dubai's main stock market and will list the shares in October, it said on Sunday.

Ten percent of the offer will be reserved for Emaar Properties shareholders at the end of trading on September 10, according to a bourse statement on Wednesday.

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