12/01/2015 14:30 AST
Dubai Financial Market (DFM) today announced the listing of “DAMAC Properties”, as trading commenced on the company’s shares.
The company is trading under the symbol (DAMAC), which appears on DFM screens, trading system and publications within the Real Estate Sector.
As the debut listing of the new year 2015, it further strengthens the exchange’s prominent position as the most favored listing venue for leading local and regional companies and lifts the total number of listed companies to 59. The DFM has successfully attracted leading companies operating in diversified sectors including; retail, real estate, education, healthcare and tourism, which further diversifies the list of issuers and enables investors to participate in the growth of these vibrant sectors.
This step follows the completion of DAMAC Properties transaction, which offered its investors to transfer GDRs listed on London Stock Exchange (LSE) into ordinary shares in order to list on DFM.
His Excellency Essa Kazim, Chairman, Dubai Financial Market, Mr. Hussain Sajwani, Executive Chairman and Chief Executive Officer, DAMAC Properties, in addition to senior representatives from both organisations attended the listing ceremony at DFM’s trading floor.
H.E. Essa Kazim said: “We are delighted to welcome the listing of DAMAC Properties, as the most recent addition to listing from highly important real estate sector whether for DFM or the broader economic activity in Dubai and the UAE.
This significant step reaffirms the undisputed confidence in DFM as a leading effective platform for issuers and investors in the UAE and beyond, as a result of its comprehensive infrastructure, state-of-the-art electronic systems, and world-class services similar to most developed international markets.”
“Through its history, DFM has been playing an active role enabling issuers to avail capital market benefits including; raising necessary funds to implement their growth strategy, valuating their assets within fair and transparent trading environment as well as strengthening links with current and potential investors locally and internationally through effective platforms such as DFM international investors roadshows.
“Additionally, DFM enables issuers to fortify the relation with investor base through many value added services such as workshops and informative guides to promote best practices of investor relations and corporate governance as well as the shareholders analysis report (eSAR), cash dividend, distribution services and general meetings solutions, etc. The accelerating pace of listings on DFM clearly indicates the sound fundamentals of the national economy’s various sectors as well as investors’ profound confidence in the economic outlook and the performance of companies. Moreover, this listing from Damac Properties as well as recent listings from a variety of economic sectors will further enhance the market depth with investors’ accessibility to more diversified opportunities,” H.E. Essa Kazim added.
Hussain Sajwani, Executive Chairman, DAMAC Properties said: “We believe that a DFM listing for DAMAC is a logical extension of our keen focus on the core markets where we operate and will enable us to further develop the Company’s profile in the Middle East region and attract a broader investor base.
“The listing demonstrates both our confidence in our home market of Dubai and our commitment to the DFM, which we believe will provide sufficient liquidity to ensure a healthy aftermarket, as well as allowing our large domestic investor base to trade our shares on their local market.”
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