#DFM
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
Tristar’s IPO was slated to be the second listing in three years on the Dubai Financial Market
The company plans to offer up to 24 per cent of its shares in the IPO
Authorities had reduced the cap to 5 per cent in March 2020 to contain the fluctuations triggered by the pandemic
Wail Farsakh was appointed to the role in April 2020
Adnan Kazim has been named as its new chairman in line with regulatory requirements
The DFM attracted 1,718 new investors during the first half of the year