DFM’s total market capitalization stood at Dhs995bn, reflecting a well-balanced and diversified sectoral composition
The IPO, priced at Dhs1.40 per share, valued ALEC at Dhs7bn ($1.91bn) and attracted around Dhs30bn ($8.1bn) in orders, more than 21 times oversubscribed
Net proceeds will be used to settle the employee stock ownership plan, fund strategic mergers and acquisitions, and maintain strategic flexibility for growth
UAE operations have remained the company’s core revenue engine, contributing Dhs864m in sales.
The strong Q1 performance underscores rising consumer demand for digital convenience and the platform’s ability to diversify beyond restaurant orders
For the first half of 2024, Parkin reported a 10 per cent increase in total revenue, reaching Dhs421m
Leading the pack is the Saudi Exchange (Tadawul), with a market value of $2.68tn, solidifying its position as the largest in the region
The total trading value on the DFM rose by 4 per cent, to Dhs48bn, in the first half of 2024
Amongst the most held stocks, Q2 saw a significant shift in the rankings, with NVIDIA rising to become the second-most popular stock on the eToro platform, behind only Tesla
The new platform is a regulated alternative to conventional financing routes and helps private companies access capital markets
In ADX, five large direct deals were executed on 243.4 million shares, amounting to Dhs683.3m
The Eid Al Fitr holiday will start on Monday, April 8, 2024 (Ramadan 29, 1445 AH)
By the end of Thursday, Parkin’s share price soared to Dhs2.84, putting the company’s market capitalisation at Dhs8.5bn
Shares of Nasdaq fell more than 2 per cent at one point amid news that its biggest shareholder, Borse Dubai, is cutting its stake
Dubai Financial Market applied no price limits on DTC shares during the first day of trading
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A major uptick in investor accounts have been recorded on the Dubai Financial Market (DFM), helped by interest in the Dubai Taxi IPO
The country’s financial markets possess significant potential and flexibility, combined with its continuous commitment to innovation and development
The execution of the first international securities lending and borrowing transaction is the latest step in the continued evolution of Dubai’s capital markets
While ADX and DFM will close for trading on July 21, Dubai Gold and Commodities Exchange will remain open and continue to operate under normal trading hours
The inclusion of private joint-stock firms in the local markets helps companies access a large capital base
The futures contracts will help investors effectively hedge against market volatility and make profitable trades
Emerging Markets Property Group is set to hire Rothschild & Co. for the potential IPO in Dubai or Abu Dhabi
The two entities have partnered with advisory firms that are a key part of the city’s financial and business ecosystem
The company sold 750 million shares and set the final share price at Dhs1.03, implying a market capitalisation of Dhs7.73bn at listing
The IPO is the largest ever in Abu Dhabi and the largest globally, year to date, as the emirate is expecting eight more listings
Through the launch of this new trading platform, International Securities is expected to double its customer base over the next 18 months
The banking sector was the leading contributor, with 17 banks accounting for 69 per cent of total assets
Trading commenced under the symbol ‘UNIONCOOP’ on July 18
Hussain Sajwani resigned as its chairman last week after his investment firm offered to acquire 100 per cent of Damac