DP World mulls Australian IPO

Unconfirmed reports from Australia suggest that DP World is contemplating raising $884m through an initial public offering of some of its local assets.

The Dubai-based operator will, nevertheless, retain a substantial stake in the business, which will be listed on the stock exchange as DP Australia, reports claim.
DP World, which has a strong presence in the Australian market, has seen the entry of Hutchison Port Holdings into the local stevedoring sector in recent years challenge the former duopoly it once enjoyed alongside Asciano Ltd.

(Source: Port Strategy)