The ports operator DP World is looking for a second home in the financial markets. The company plans to have a place on the London Stock Exchange in addition to its listing on the Dubai Nasdaq Index, said the London Evening Standard.

Container cranes owned by the Dubai Port Authority. Photo Credit: Bjoertvedt

Dubai-owned ports operator DP World is looking for a second home in the financial markets: The company plans to have a place on the London Stock Exchange in addition to its listing on the Dubai Nasdaq Index, The London Evening Standard reported today.

The move was prompted by lower valuations placed on the company owing to the financial blunders of its parent company Dubai World, which is currently struggling with billions of dollars of debt.

DP World is owner of the Peninsular and Oriental Steam Navigation Company, which operates ports in 31 countries around the world. Its current value is approximately $7 billion. The company is not involved in Dubai World’s financial restructuring, and has paid its regular obligations as usual, The Guardian reported.

The listing is said to take place in the second quarter of 2010, said the Sydney Morning Herald. The company hopes its London presence will increase its visibility and credibility, both of which have taken a severe beating.

Dubai World’s $26 billion of debt is one of many facets of the emirate’s current financial situation. The state’s dizzying rate of growth caught the imagination of investors throughout the world, and while Dubai is expected to make a full recovery in the new year, investors have been a bit gun-shy, some reports say.