(Alliance News) - Dar Global PLC shares inched higher on Tuesday after it debuted on the Main Market of the London Stock Exchange.
Dar Global is a London-based representative of Dar Al Arkan Real Estate Development Co PJSC in Saudi Arabia. It represents the international assets of Riyadh-listed DAARE, which has developed 15,000 luxury residential units with total assets of USD8.5 billion.
Dar Global develops second homes for internationally mobile customers in locations such as Dubai in the United Arab Emirates, Muscat in Oman, and the Costa del Sol in Spain.
The company said its total number of shares are 180.0 million. Shares were worth USD3.33 each on admission, giving it a market capitalisation of around USD600 million.
Shares traded at USD3.60 around midday in London, up 8.1%.
By Tom Budszus, Alliance News reporter
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