Due to strong investor demand, Dubai’s supermarket chain operator, Spinneys, has announced an increase in the size of its retail offering for its upcoming IPO. [1] Read More: Spinneys’ $375 Million Du …
Spinneys increases retail share offering for upcoming IPO
Following approval from the UAE’s Securities and Commodities Authority, the UAE Retail Offering has been upped from 45 million shares to 63 million shares. Consequently, the UAE Retail Offering will …
Spinneys increases retail offering of IPO to 63 million shares
Total size of the IPO remains unchanged at 900 million shares; Institutional investors offering now reduced to 93% …
Dubai’s 120 richest families and individuals own $1trln in wealth
The emirate is home to 68,500 millionaires with at least $1 million in liquid assets and 206 centi-millionaires …
UAE Ministry of Finance participated in 2024 IsDB Group annual meetings
Riyadh, KSA – The UAE Ministry of Finance participated in the 2024 Islamic Development Bank (IsDB) Group Annual Meetings held from 27 to 30 April 2024 in Riyadh, KSA. This year’s annual meetings …
UAE banks make history by achieving over Dh650 billion in investments
This was in comparison to about Dh541.4 billion in February 2023, an increase equivalent to Dh111.3 billion within 12 months …
UAE central bank’s balance sheet hits new AED750 billion record in February
The UAE Central Bank ’s balance sheet reached a record AED 750 billion mark at the end of February, marking a historic milestone, the bank said. This is a 32.5 percent jump in the Central Bank’s …
Dubai Spinneys expands size of IPO retail offering
Dubai supermarket chain operator Spinneys, which is planning a 25% stake sale in an IPO, has expended the size of its retail offering following high levels of demand from investors.
Dubai Financial Market reports 171% increase in Q1 2024 net profit (pre-tax), reaching AED 95.6mln
Institutional investors accounted for 65% of trading value.
Spinneys increases UAE retail offering to 7% after ‘significant investor demand’
The total size of the offering remains unchanged at 900 million shares, representing 25 per cent of the company’s total issued share capital …
Emirates Islamic becomes first Islamic bank in region to introduce Fractional Sukuk for investors
Emirates Islamic has launched Fractional Sukuk, an innovative new product catering to investors. The exclusive offering grants customers access to international Sukuk markets with a minimum investment …
Dubai Financial Market reports 171% increase in Q1 2024 net profit
DUBAI, 29th April, 2024 (WAM) — Dubai Financial Market (DFM) today announced its consolidated financial results for the first quarter of the year ending on 31st March 2024, posting a net profit …
National Bank of Fujairah net profit before tax rose 80.8% in Q1 2024
National Bank of Fujairah (NBF) announced on Monday that it recorded a year-on-year growth of 80.8 per cent in net profit before tax of Dh274.8 million in the first quarter of 2024 compared to Dh152.0 …
Editor of IMI-owned The National: FT wrong to call us UAE ‘mouthpiece’
Mina Al-Oraibi told Press Gazette criticism of the newsbrand’s ownership unfairly writes off its journalism, which she said “speaks for itself”. She noted it was shortlisted for International …
UAE’s Islamic finance sector witnesses accelerated growth of 8% in 2023: S&P
S&P Global Ratings, the global credit rating agency, confirmed that the total assets of the global Islamic finance sector continue on a path of rapid growth, pointing to the sector’s accelerated …
UAE corporate tax to bolster future economic sustainability: MoF
This new taxation framework, informed by extensive benchmarking and impact assessments, ensures public participation through a digital consultation phase …
UAE: SCA extends decision to exempt registration fees for green or sustainability-linked bonds or sukuk
The Securities and Commodities Authority (SCA) today decided to extend the exemption from registration fees for green or sustainability-linked bonds or sukuk.