Emaar Properties to list malls unit on bigger bourse

[DUBAI] Dubai's Emaar Properties said yesterday it will list up to 25 per cent of its malls business on the Dubai Financial Market (DFM), a shift from earlier plans to list on the emirate's smaller Nasdaq Dubai exchange.

The builder of one of the world's largest malls - Dubai Mall - said it had received regulatory approval for the primary listing of up to a quarter of Emaar Malls Group.

Companies listing on DFM are normally required to float stakes of at least 55 per cent but exceptions to the rule have been made in the past.