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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 | 401.70 | -0.30 (-0.08 |
| FAB | 13.90 | -0.14 (-1.00 |
| EMIRATESNBD | 20.15 | -0.30 (-1.47 |
| ADCB | 11.10 | -0.22 (-1.95 |
| EIB | 12.25 | 0.00 (0.00 |
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
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The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
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