DP World yesterday marked its ten-year public listing on Nasdaq Dubai with a ceremonial event at the Dubai Financial Market (DFM).
The event was attended by Sultan Bin Sulayem, chairman and CEO of DP World, H E Essa Kazim, governor of the DIFC and chairman of DFM and Hamed Ali, CEO of Nasdaq Dubai.
Sulayem, said, “The listing on Nasdaq Dubai has been instrumental in our growth. It has given us access to the top global and regional institutional investor base and the retail community. We have grown from 42 terminals in 22 countries before the listing to 78 terminals in 40 countries within a decade, while profits have risen from $440mn to over $1bn during this period.
“We ended the year as the largest listed company in Dubai with a market capitalisation of US$21bn and are also the largest listed global port operator worldwide. DP World was also the first UAE-based listed company on Nasdaq Dubai and continues to set new benchmarks to develop regional capital markets and to position Dubai as the capital of the Islamic economy globally. I would like to take this opportunity to thank Nasdaq Dubai and our shareholders for their support and continued commitment in our growing success.”
DP World share price reached US$25 at the end of 2017, a ten-year high having risen 43% in the year on the back of strong container volume growth. This makes DP World the best performing large-cap stock in the UAE, significantly outperforming local indices, a press release said.
Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said, “Nasdaq Dubai is delighted to have hosted DP World throughout its impressive growth and development during its 10 years as a listed entity, with more than 11bn US dollars in share trading by UAE, regional and international investors.”