Publication Date:
Wed, 2011-04-06 16:31
The Dubai-based cargo handler said it will ask shareholders to approve the move at its annual meeting next month.
The deal would give shareholders one share in exchange for every 20 they own, effectively raising the stock price by 20 times.
It would reduce the number of DP World shares to about 830 million, from 16.6 billion now.
DP World says the move will provide its with an earnings-per-share ratio that better reflects the value of the company. It plans to launch an additional listing for its shares on the London Stock Exchange this year.
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