Dubai – Mubasher: Emaar Properties’ stock on Tuesday witnessed a rise, despite the expectations to drop due to the lack of information regarding the the initial public offering (IPO) of its subsidiary Emaar Development.

By 12:00 pm UAE time, the stock rose 1.2% to AED 8.48, generating a turnover of AED 26.98 million, through trading 3.2 million shares.

The stock had witnessed a decline during trading on Sunday and Monday, after announcing the shrinking the offered stake to 20% from 30%, which negatively affected investors willing to participate in the IPO.

Meanwhile, the general index of the Dubai Financial Market (DFM) rose 0.49% to 3,635.81 points.