- DUBAI: Ports operator DP World, a unit of conglomerate Dubai World, said on Tuesday shareholders approved an amendment allowing the firm to seek a listing on the London Stock Exchange.
Voting results from the firm's annual general meeting on Monday were released in a statement to the Nasdaq Dubai bourse.
DP World, whose parent company is in the midst of a $26 billion debt restructuring, also said shareholders voted in favor of a buyback proposal for a "limited number" of ordinary shares. It did not give a specific figure.
The firm, which is not included in Dubai World's restructuring plan, is one of the largest port operators in the world and is 77 percent owned by the state-linked conglomerate.
On Monday, DP World reported a rise in first-quarter container volumes and forecast improved earnings for the year, partly on cost cuts.
The ports operator has been seeking a London listing via sterling depositary interests. Last month, DP World's Chief Executive Mohammed Sharaf said the LSE listing is not to raise additional capital but to provide additional liquidity.