By: Mahmoud Gamal
Dubai – Mubasher: Emaar Properties’ stock rose 3% in Monday’s trading session, backed by the company’s new tenders for Expo 2020 sites in addition to plans to offer up to 30% of its UAE property development business through an initial public offering (IPO) on Dubai’s bourse.
The stock rose to AED 7.84, its highest level in 22 months, generating AED 111.41 million from the exchange of 14.37 million shares.
Emaar’s news attracted strong purchases to the stock; thus, supporting Dubai’s bourse, financial analyst Mohamed Kamal stated.
The stock targets to reach AED 7.92 and AED 8.2, resepctively, Kamal added.
Translated by: Julian Nabil
