The final offer price was set at AED1.53 per share, at the top end of the offer price range, raising around AED1.38bn ($375m) and implying a market capitalisation of AED5.51bn ($1.5bn) on admission to …
Gulf Waitrose brand operator Spinneys jumps on first day of Dubai trading
They believe its success may encourage other private sector companies to come to market in the Middle East’s financial hub Dubai, whose stock exchange has traditionally been dominated by state-linked …
Spinneys debuts on Dubai Financial Market after successful IPO
Dubai Financial Market (DFM) today welcomed the successful listing of Spinneys 1961 Holding PLC. The company’s IPO saw significant demand from international and regional institutional investors, as …
Mena IPO activity robust in Q1; 10 offerings net $1.2bn
Brad Watson, EY Mena Strategy and Transactions Leader, said: “The first quarter 2024 started off on a positive note with 10 IPOs concentrated in the GCC region, raising a total of …
EFG Hermes completes advisory on $375mln IPO of Spinneys on the DFM
Dubai: EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking …
Dubai residents stop renting, start buying as mortgage payments start to ‘match’ rental costs: Experts
Rent hikes driven by Dubai’s real estate market boom are prompting residents to downsize, relocate to more affordable areas, or buy property, experts say …
Spinneys shares up more than 9% as it starts trading on the Dubai Financial Market
Spinneys, the operator of premium supermarkets in the UAE and Oman, saw its share price rise as it began trading on the Dubai Financial Market, following an initial public offering that raised Dh1.37 …
Dubai Financial Center Poised for Record Growth This Year
Dubai International Financial Centre (DIFC) anticipates a record number of businesses to establish themselves in the Middle East’s economic hub, drawing in major hedge fund players like Millennium …
UAE Ministry of Finance make framework to enable better public-private partnerships
The Ministry of Finance is committed to enhancing public-private partnerships and recognises the significant role that such collaboration plays in the socio-economic development of the UAE. It also …
UAE bank fraud: Criminals increasingly focusing on contactless transactions
Abu Dhabi resident Nadeen Awwad encountered a case of fraud involving her First Abu Dhabi Bank credit card on April 6. Three unauthorised contactless payments totalling about Dh10,500 ($2,859) were …
Dubai FinTech Summit concludes with over 8,000 visitors from 118 countries
The 2nd edition of Dubai FinTech Summit (DFS) organised by Dubai International Financial Centre (DIFC), under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First …
Dubai announces major projects: $4.6bn commercial transport strategy, remote work to slash traffic jams, data economy boost, new community policy
Dubai has approved plans to transform transportation … the Supreme Legislation Committee, and the Department of Finance, the Community Engagement Policy is based on the principles of inclusivity, …
UAE: Burjeel holdings reports revenue growth of 11.1 per cent in Q1 2024
Burjeel Holdings PLC today announced its financial results in accordance with International Financial Reporting Standards (IFRS) for the three-month period ended 31st March 2024, delivering revenue …
Commercial Bank of Dubai Names QualityKiosk as Exclusive Partner to Develop CBD’s Testing Centre of Excellence as part of its Technology Strategy Refresh Initiative
Commercial Bank of Dubai names QualityKiosk its exclusive quality & reliability engineering partner to accelerate its Technology Refresh Initiative.
John Wood Group rebuffs takeover offer from Dubai-based rival Sidara
John Wood Group rebuffs takeover offer from Dubai-based rival Sidara – The London-listed company said the offer ‘undervalued Wood and its future prospects’ in a Wednesday update.
Engineer Wood Group rejects £1.4bn bid from Dubai rival; TSB to shut 36 branches – as it happened
High street bank TSB has revealed plans for 250 job cuts, prompting anger from unions including Unite, which called the move a “grave mistake”. The cuts will primarily affect staff in fraud operations …
Sheikh Ahmed addresses the question of an Emirates IPO
Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates airline and Group addressed this question during a media briefing at the Arabian Travel Market on Tuesday. Sheikh Ahmed speaking to …