DP World begins pricing shares
Dubai-government-owned terminal company Dubai Ports World is expected to raise as much as $4.3 billion in an initial public stock offering.
DP World, which was forced to sell terminals it acquired in the United States earlier this year because of concerns about security because of its ownership by Dubai, is accepting bids for shares between $1 and $1.30 per share.
The company plans to sell 2.8 billion to 3.3 billion shares, depending on investor interest. That would be about a 17 percent to 20 percent stake in the government company.
Proceeds will be used to provide cash to the government of Dubai or to repay Islamic bonds.
DP World begins pricing shares
