Company Insights Dubai Financial Market (DFM) Markets Dubai Financial Market (DFM) News DFM operator’s profit rises 150% as revenues surge Dubai Financial Market Company, the operator of the Dubai stock exchange, has reported a jump in net profit of more than 150 percent, thanks to a revenue surge in the first quarter of 2024. Net profit for the three-month period rose to AED89.6 million ($24.4 million), against AED35.3 million a year ago. Total consolidated revenue increased […] April 30, 2024 Retail Spinneys targets market cap of $1.5bn on Dubai listing Supermarket operator Spinneys will have a market capitalisation of between AED5.11 billion to AED5.51 billion ($1.39 billion-$1.5 billion) after its initial public offering (IPO) price range was set between AED 1.42 and AED 1.53 per share. The total offering size is expected to be between AED1.3 billion and AED 1.4 billion, the company said. Spinneys last […] April 23, 2024 Retail Spinneys to offer 900m shares in Dubai IPO Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […] April 16, 2024 Real Estate Union Properties to repay $263m debt in 2024 Union Properties plans to repay AED966 million ($263 million) to lenders in 2024 as part of its debt restructuring plan. The developer, which trades on the Dubai Financial Market, has repaid AED290 million ($78.96 million) worth of debts as a result of AED816 million generated from plot sales in the first quarter of 2024. The […] April 3, 2024 Drake & Scull to resume trading on Dubai bourse in May Dubai contractor Drake & Scull International (DSI) expects to resume trading on the Dubai Financial Market on May 21 following a five-year suspension. Trading came to a halt in November 2018 when the company disclosed losses exceeded 75 percent of its capital. At the time of its suspension, the stock had fallen 64 percent from […] April 2, 2024 Construction Auditors raise concerns over Drake & Scull as losses mount Auditors reviewing the finances of Drake & Scull International have issued a heavily qualified disclaimer in which they appear to distance themselves from the UAE construction contractor. A filing on Dubai Financial Market for Drake & Scull revealed revenues of AED94 million ($26 million) for the year to December 31 2023, up from AED81 million […] March 29, 2024 Education Taaleem profits rise with surge in UAE student numbers An increase in student enrolments by more than one-third helped UAE schools operator Taaleem achieve a 53 percent increase in annual profits for the first half of the 2023-24 academic year. Taaleem, which operates schools on behalf of the Abu Dhabi, Dubai and UAE federal governments, said student numbers across its portfolio of 32 UAE […] March 29, 2024 Borse Dubai to sell $1.6bn stake in Nasdaq State-owned Borse Dubai will sell nearly 27 million shares in the US stock exchange operator Nasdaq for $1.6 billion. The holding company for Dubai Financial Market and Nasdaq Dubai will reduce its stake from 15.5 percent to 10.8 percent, or 62.4 million shares, making it the second largest shareholder in Nasdaq, the US bourse operator […] March 20, 2024 Parkin raises $428m as IPO oversubscribed 165 times Parkin, the Dubai government’s parking management company, has raised AED1.6 billion ($427.5 million) after pricing its initial public offering (IPO) at the upper end of its range at AED2.1 per share. The offering was oversubscribed 165 times as the order book hit AED259 billion at the final offer price, the UAE state-run Wam news agency […] March 15, 2024 IPOs Parkin expands IPO retail tranche after high demand Parkin, the Dubai government’s parking management company, has increased the UAE tranche of its initial public offering (IPO) from 10 percent to 12 percent, after high demand for its shares . After approval from the Securities and Exchange Authority, the retail offer rose to just under 90 million ordinary shares, from 75 million. The retail […] March 13, 2024 Posts navigation Previous 1 … 8 9 10 … 20 Next
DFM operator’s profit rises 150% as revenues surge Dubai Financial Market Company, the operator of the Dubai stock exchange, has reported a jump in net profit of more than 150 percent, thanks to a revenue surge in the first quarter of 2024. Net profit for the three-month period rose to AED89.6 million ($24.4 million), against AED35.3 million a year ago. Total consolidated revenue increased […] April 30, 2024
Retail Spinneys targets market cap of $1.5bn on Dubai listing Supermarket operator Spinneys will have a market capitalisation of between AED5.11 billion to AED5.51 billion ($1.39 billion-$1.5 billion) after its initial public offering (IPO) price range was set between AED 1.42 and AED 1.53 per share. The total offering size is expected to be between AED1.3 billion and AED 1.4 billion, the company said. Spinneys last […] April 23, 2024
Retail Spinneys to offer 900m shares in Dubai IPO Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […] April 16, 2024
Real Estate Union Properties to repay $263m debt in 2024 Union Properties plans to repay AED966 million ($263 million) to lenders in 2024 as part of its debt restructuring plan. The developer, which trades on the Dubai Financial Market, has repaid AED290 million ($78.96 million) worth of debts as a result of AED816 million generated from plot sales in the first quarter of 2024. The […] April 3, 2024
Drake & Scull to resume trading on Dubai bourse in May Dubai contractor Drake & Scull International (DSI) expects to resume trading on the Dubai Financial Market on May 21 following a five-year suspension. Trading came to a halt in November 2018 when the company disclosed losses exceeded 75 percent of its capital. At the time of its suspension, the stock had fallen 64 percent from […] April 2, 2024
Construction Auditors raise concerns over Drake & Scull as losses mount Auditors reviewing the finances of Drake & Scull International have issued a heavily qualified disclaimer in which they appear to distance themselves from the UAE construction contractor. A filing on Dubai Financial Market for Drake & Scull revealed revenues of AED94 million ($26 million) for the year to December 31 2023, up from AED81 million […] March 29, 2024
Education Taaleem profits rise with surge in UAE student numbers An increase in student enrolments by more than one-third helped UAE schools operator Taaleem achieve a 53 percent increase in annual profits for the first half of the 2023-24 academic year. Taaleem, which operates schools on behalf of the Abu Dhabi, Dubai and UAE federal governments, said student numbers across its portfolio of 32 UAE […] March 29, 2024
Borse Dubai to sell $1.6bn stake in Nasdaq State-owned Borse Dubai will sell nearly 27 million shares in the US stock exchange operator Nasdaq for $1.6 billion. The holding company for Dubai Financial Market and Nasdaq Dubai will reduce its stake from 15.5 percent to 10.8 percent, or 62.4 million shares, making it the second largest shareholder in Nasdaq, the US bourse operator […] March 20, 2024
Parkin raises $428m as IPO oversubscribed 165 times Parkin, the Dubai government’s parking management company, has raised AED1.6 billion ($427.5 million) after pricing its initial public offering (IPO) at the upper end of its range at AED2.1 per share. The offering was oversubscribed 165 times as the order book hit AED259 billion at the final offer price, the UAE state-run Wam news agency […] March 15, 2024
IPOs Parkin expands IPO retail tranche after high demand Parkin, the Dubai government’s parking management company, has increased the UAE tranche of its initial public offering (IPO) from 10 percent to 12 percent, after high demand for its shares . After approval from the Securities and Exchange Authority, the retail offer rose to just under 90 million ordinary shares, from 75 million. The retail […] March 13, 2024
