Emaar Taps Demand for Dubai Boom in $1.58 Billion Malls IPO

Investors will have a chance this month to own part of a dancing fountain, an underwater zoo and an ice-skating rink in the desert sheikhdom of Dubai.

Emaar Properties PJSC, owner of the world’s biggest shopping center, said yesterday that it’s seeking to raise as much as $1.58 billion from the initial public offering of its malls unit in the United Arab Emirates’ biggest IPO since 2007.