Union Properties plans to list three units on DFM

Union Properties plans to list three units on DFM

Dubai - Mubasher: Union Properties is planning to convert three subsidiaries into private joint-stock companies and list their shares on the Dubai Financial Market (DFM).





The property developer is setting a plan to enhance its cash flow and deal with the accumulated losses, according to a recent press release.





As part of the plan, the company seeks to list Dubai Autodrome, The Fitout, and ServeU on the DFM, in addition to making acquisitions in various sectors. 





The company is also studying other options, including whether or not it will cut or increase its share capital.





It is noteworthy to mention that by the end of the second quarter (Q2) of 2020, the company has incurred AED 2.3 billion accumulated losses.