Damac begins London trading

City A.M. Reporter
SHARES in the Dubai-based property group Damac are expected to begin trading this morning in London after the group’s bankers decided to go ahead with flotation plans.

The issue had been held up last week as investors awaited news of Dubai’s bid to host Expo 2020, which it won last week.

The group’s securities will be priced towards the bottom of the range, around $12.25 and valuing the group at around $2.6bn.