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30/12/2014 06:10 AST
Greenfield IPO stocks were punished after the Securities and Commodities Authority said it was considering a ban on new listings of start-ups.
New listings of start-ups will be permitted only if they “intend to operate in an industry not represented on the UAE’s stock exchanges, and in an area of strategic importance to the economy”, Bloomberg News reported.
Dubai Parks and Resorts, which floated on December 9, fell 4.3 per cent, while Marka, which floated on September 24, shed 2.9 per cent.
Amanat Holdings, an investment company focused on health care and education, rose 0.36 per cent.
Shares in Dubai Parks have lost 20 per cent of their value since the company’s flotation, while Amanat shares have fallen by 16.5 per cent. Marka’s shares are trading above their IPO value. All three stocks are listed on the Dubai Financial Market.
The Abu Dhabi Securities Exchange (ADX) and the DFM were the worst-performing among Middle Eastern bourses on Monday.
The ADX closed down 1.15 per cent, while the DFM fell 1.22 per cent, wiping a combined Dh4.03 billion off the exchanges. Both indexes have largely reversed year-to-date gains.
On the DFM, 19 stocks fell and four gained, while on the ADX, 20 stocks fell and eight rose.
On the ADX, Asmak rose 12.8 per cent. The company belatedly released its third-quarter financials on December 22, which indicated that disposal of subsidiaries was set to lead the fish farmer to its highest profits in several years.
The National
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
ADX 4,608.97
23.76 (0.52
DFM 3,091.15
-9.24 (-0.30
Ticker | Price | Change |
---|---|---|
EMIRATESNBD | 10.65 | 0.05 (0.47 |
EIB | 9.50 | 0.00 (0.00 |
EMAAR | 5.61 | -0.03 (-0.54 |
EMAARMALLS | 2.16 | 0.00 (0.00 |
DIB | 5.30 | 0.00 (0.00 |
05/04/2018
Foreign investors bought $1.18 billion in Middle East and North African equities in March, especially Saudi ones amid the kingdom’s upgrade to emerging market status by FTSE Russell, according to a r
The National
05/04/2018
Buying activity in financials lifted the MSM30 Index to 4,794.61 points, up 0.41 per cent. The MSM Sharia Index closed at 676.52 points, down 0.08 per cent. Gulf Investment Services was the most acti
Times of Oman
05/04/2018
Traded value on the Dubai Financial Market tumbled on Wednesday as global stocks declined amid an intensifying US-China trade war. In Abu Dhabi, banking shares surged ahead of first quarter results s
Gulf News
04/04/2018
Driven by financial blue chips, the MSM30 Index continued its recovery to close at 4,775.27 points, a gain of 0.53 per cent. The MSM Sharia Index ended at 677.06 points, down 0.07 per cent. HSBC Bank
Times of Oman
04/04/2018
Emaar Properties shares extended losses for another session on Tuesday, to hit their lowest level in a year, as selling continued on the wider Dubai gauge. Emaar Properties fell to a low of Dh5.58, b
Gulf News