Emaar Properties PJSC spearheaded a building boom in the emirate over the past 15 years and built the world’s tallest skyscraper in Dubai. (AP Photo/Kamran Jebreili, File)
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The company that helped build entire neighborhoods in Dubai plans to sell part of its business in the United Arab Emirates in an initial public offering. Emaar Properties PJSC, which spearheaded a building boom in the emirate over the past 15 years and built the world's tallest skyscraper in Dubai, will sell 20 percent of its real estate development business, according to an emailed statement Sunday. The first, Emaar Malls PJSC, is one of eight companies to have sold shares in an IPO since the start of 2010, almost all of which are trading below their offer price.Also, investors would be able to gain exposure to one segment without taking on others such as Emaar Malls and Emaar Misr, said Issam Kassabieh, an equities analyst at Menacorp Financial Services in Dubai.
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