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18/11/2015 06:00 AST
Based on the approval of the Securities and Commodities Authority (SCA), the Dubai Financial Market (DFM) said trading of shares of Dubai Development Company will be resumed on November 19.
This step follows the completion of an acquisition process that enabled a group of investors represented by Al Ramz Capital to acquire about 82.4 per cent of the total capital of the Dubai Development Company of Dh10 million divided into 10 million shares.
The acquisition transaction was completed on November 2 at a net price of Dh4.55 per share, excluding any commissions, with an increase of 237 per cent from the book value per share. The deal was implemented through the Clearing Department of DFM (outside the trading floor).
It is noteworthy that the acquisition price of Dh4.55 per share will be applied as the opening price of Dubai Development Company shares and the fluctuation band of 15 per cent up and 10 per cent down will be applied on the share as per DFM rules in effect.
The buyout offer submitted by a group of investors represented by Al Ramz Capital to the shareholders of the Dubai Development Company PJSC ended on October 29.
Gulfnews
21/03/2018
Al Ramz Corp said its general assembly has approved a dividend distribution of 6 per cent of the capital.
The distribution represents more than 50 per cent of the net profits achieved for
Gulf News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 399.50 | -0.10 (-0.03 |
| FAB | 17.06 | 0.04 (0.23 |
| EMIRATESNBD | 24.50 | -1.20 (-4.67 |
| INVESTB | 0.45 | 0.00 (0.00 |
| ADCB | 13.70 | -0.10 (-0.73 |
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Taqa Energy Services, a subsidiary of Abu Dhabi National Energy Company (Taqa), has signed an agreement with Sdeira Group, a subsidiary of AD Ports Group, to implement one of the emirate's largest bu
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Saudi Real Estate Company (Al Akaria) has announced the signing of a framework agreement with Expo 2030 Riyadh Company to execute the early works for the Expo 2030 Riyadh project.
The contra
Trade Arabia
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Kuwait Times
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Trade Arabia
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Vodafone Qatar has announced the commercial launch of its 5G Standalone (SA) network, which marks a significant leap forward in its digital transformation journey.
The company has partnered w
Gulf Times
Financial Information Co.
Saudi Arabia