Emaar’s mall unit IPO price fixed at Dh2.9

Emaar Properties said on Monday that shares in its mall unit will be sold at Dh2.9 per share, putting the unit’s market value at Dh37.7 billion.

Emaar Properties has raised $1.6 billion by selling 15 per cent stake in its unit, Emaar Mall Group.

The shares will list on the Dubai Financial Market on October 2.