Peter T. Leach | Jun 01, 2011 9:27AM EDT
The shares of DP World were listed Wednesday morning on the London Stock Exchange’s main market for listed securities.
The Dubai-based terminal operator said no new capital was raised as part of the listing, but its goal is to provide an additional platform to invest in DP World shares to help attract a broader range of investors.
The company raised nearly $5 billion in an initial public offering in November 2007 but trading in the shares has been light since then.
The operator put 830 million ordinary shares onto the exchange and trading opened at about $13.60 a share.
DP World shares will also continue to trade under DP World's existing listing on Nasdaq Dubai with its shares being fully interchangeable across both exchanges.
DP World’s 49 operational terminals boosted first quarter traffic by 12 percent from a year ago to 12.6 million 20-foot equivalent units.
-- Contact Peter T. Leach at pleach@joc.com. Follow him on Twitter @petertleach.