Emaar says no decision yet on timing of Malls unit IPO

August 14, 2014 - 9:24:20 am

DUBAI: Dubai's Emaar Properties said on Thursday it had not yet taken a decision on the timing of an initial public offering of its malls business, which was expected later this year.

In a statement released on the Dubai stock exchange, the firm said details of the proposed listing would be announced in "due course".

The Emaar Malls Group listing is expected to raise 8 to 9 billion dirhams ($2.18-$2.45 billion), making it one of the region's largest equity offers since 2008.

Local media reports said the company would list its mall business on the Dubai stock exchange in mid-September. (Reuters)