Dubai's DP World, the state-owned port operator selling shares to the public, expects revenue to grow 38.5 percent during the next two years to $1.44 billion, a banker arranging the initial public offering said. The world's fourth-largest container-port operator will report earnings before interest, tax, depreciation and amortisation (EBITDA) of $1.04 billion this year and $1.2 billion next year, a document the banker gave Reuters showed. The banker did not want to be identified. Dubai-based Shuaa Capital, Deutsche Bank, Merrill Lynch & Co Inc and Dubai Islamic Bank are advising on the IPO, in which DP World aims to raise as much as $4.32 billion by selling a 20 percent stake.
DP World has refused to make forecasts for revenue or profit. (Reporting by James Cordahi; Editing by David Holmes)
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