Emaar shares plunged almost 10 % Sunday

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Emaar reconsiders plans to list on London Stock Exchange
Published: November 10, 2008, 09:49

Dubai: Dubai-based developer Emaar Properties is reconsidering a plan to list shares on the London Stock Exchange (LSE) due to adverse conditions in global financial markets, its chairman said in remarks published on Monday.

"We have to reconsider that plan due to the current financial environment," Mohamed Alabbar said, according to daily Emirates Business.

Alabbar said last November that Emaar was looking at listing on the LSE within 12 months.



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Their stock price is indicative of the situation/crash in Dubai real estate and vice versa. I like how their share buyback never really went anywhere either. They bought back about 0.1 % of the total they need to make up 10 % of their oustanding shares. What a binch of liars! I'm just sick of them. I know brokers on the inside who said there is a concerted effort to try and push their share price down to 3 dirhams a share.
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