IPO news does not help Dubai market index
02/03/2014 6:02 pm EDT

share with your network:

The Dubai Financial General Index (DFMGI) opened higher on the first trading day in March, but the gauge eventually lost steam and ended 1.12 per cent lower at 4,175.29 points on Sunday, March 2. Ongoing sabre-rattling between the Ukraine and Russia weighed on the investors’ sentiment. Earlier in the day, it was revealed that Dubai-based retailer and food and beverage firm, Marka, has received a soft nod from the DFM for an initial public offering (IPO) worth AED500 million ($136.35m). It would be the first primary listing in five years. Emaar Properties, the market bellwether, headed down by 1.32 per cent to AED8.98. Emirates NBD bucked the trend, finishing 0.12 per cent higher at AED8.40. Approximately 537 million shares were traded, valued at AED1.12 billion.

Gérard Al-Fil

About the Author

share with your network:

Share your view

© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.