DP World consolidates shares

07 Apr 2011

(MENAFN) DP World Limited’s spokesperson, said that the company would reduce the number of shares to 830 million rather that 16.6 billion, reported Gulf News.

He added that by the one-for-20 share consolidation, every shareholder would get a new USD2.00 share for every twenty shares he already owns.

The spokesperson said that this step would affect the company’s global position positively, as the value of shares would increase. It is well known that companies around the world usually do not show much interest in stocks that have values less than a dollar per share.

It is worth noting that DP World Limited is the ports operator of conglomerate Dubai World.

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