By: Amr Adel

Dubai – Mubasher: Emaar Properties on Sunday postponed its ordinary general meeting (OGM) to Saturday 21 October because of the incompletion of the quorum.

The OGM should have been held at four o’clock pm on Sunday at Address Boulevard Hotel, according to an earlier company’s filing to the Dubai Financial Market (DFM).

The OGM was not held after 18.96% of stockholders attended the meeting, while the quorum was 75% of stock holders, according to Emaar Properties.

Investors were waiting avidly on Sunday for the results of Emaar Properties’ OGM, hoping for the resumption of the initial public offerings (IPO) on the UAE’s markets after two years of suspension.

During the next OGM, Emaar Properties’ stockholders will discuss the transformation of its wholly owned subsidiary Emaar Development into a public joint stock company with 30% of its shares listed on the DFM, the company revealed.

Translated by: Muhammad Abdulwakeel