Dubai Ports seeks US$3.5 billion for expansion from IPO

THE world's third-biggest container port company Dubai Ports World (DPW) is seeking up to US$3.5 billion in an upcoming initial public offering.

The company is looking to sell a third of its shares to help fund global expansion. Bloomberg reported the shares would be listed on the Dubai International Financial Exchange and possibly, the London Stock Exchange pending the approval of Dubai's ruler Sheik Mohammed bin Rashid al-Maktoum.

Financial analysts say the proposed deal will be met with enthusiasm from investors worldwide as growth opportunities abound in the port sector, particularly in Asia.

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