Emaar Development IPO takes a beating due to M-E geopolitical risk

Dubai

GEOPOLITICAL risk in the Middle East took a toll on the debut of a stock linked to one of the strongest brands investors can find in the United Arab Emirates (UAE) market.

Emaar Development, the UAE real estate developer that began trading in Dubai on Wednesday, fell 4.3 per cent. That was the worst debut trading day since 2014 among the 10 biggest initial public offerings (IPO) in the Middle East and Africa over that time span, according to data by Bloomberg.