Emaar shareholders to get preference in mall unit IPO

Investors holding shares in Dubai’s Emaar Properties at the end of trading on Sept. 10 will qualify for priority allotment in the flotation 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 Sept. 10, according to a bourse statement.