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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 | 401.00 | 0.00 (0.00 |
| FAB | 15.86 | 0.06 (0.37 |
| EMIRATESNBD | 22.60 | 0.70 (3.19 |
| ADCB | 12.30 | 0.10 (0.81 |
| ADIB | 19.10 | 0.18 (0.95 |
16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
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