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Shares in Dubai's Emaar Malls Group (EMG) jumped 20 per cent shortly after opening on Thursday as the stock started trading on Dubai's main stock exchange following a $1.6 billion initial public offer.
EMG shares, which were sold at 2.90 dirhams in the heavily oversubscribed IPO, rose to 3.49 dirhams on the market. Dubai's main index, which does not yet include the stock, slid 1.0 per cent.
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