DP World to join FTSE 100 index

Dubai's global port and logistics group, DP World, plans to join the FTSE 100 Index of shares as part of a plan to sell new equity on the London Stock Exchange, The National has reported. The company may issue a further 5% of shares with a rights cash-call, and a simultaneous sale of up to 10% of the stake held by Dubai World, which would help the company raise $1bn in new funds for DP World and its parent. Membership of the FTSE 100 Index is dependent on market capitalisation, size of free float and potential traded turnover of shares.