Dubai Financial Market shares to begin trading
Following an initial public offering, and for the first time in the region, the trading of shares of Dubai Financial Market (DFM) will begin today.
A ceremony to mark the occasion will be held on March 7, 2007, at 10 AM at the DFM. Abdullah Salem Al Turifi, Chief Executive Officer of Emirates Securities and Commodities Authority, will ring the bell to signal the start of trading of the world's first Islamic stock market shares.
The listing ceremony will also be attended by Essa Kazim, Chairman of the DFM, along with Board of Directors and other senior management from DFM, Dubai Bank, lead manager of the IPO, and representatives of receiving banks. Senior representatives from the UAE Ministry of Economy will also be in attendance.
The DFM has initiated a multi-channel electronic communications awareness programme, including both local and pan-Arab radio and TV stations, to broadcast the listing ceremony. This is in addition to sending notifications to their investors via SMS messages.
DFM Company is the 50th company to list its shares on the market. The company is part of the 'investment and financial services' sector. The year 2006 was an eventful one for the Dubai Financial Market (DFM), capped by the bourse's own landmark Dh1.6 billion initial public offering (IPO). This IPO, the first of its kind in the region, was oversubscribed and generated more than Dh201 billion. Among the year's other highlights were a string of new listings by firms from across the region, bringing the total number of listed firms on the DFM to 49. Source
A ceremony to mark the occasion will be held on March 7, 2007, at 10 AM at the DFM. Abdullah Salem Al Turifi, Chief Executive Officer of Emirates Securities and Commodities Authority, will ring the bell to signal the start of trading of the world's first Islamic stock market shares.
The listing ceremony will also be attended by Essa Kazim, Chairman of the DFM, along with Board of Directors and other senior management from DFM, Dubai Bank, lead manager of the IPO, and representatives of receiving banks. Senior representatives from the UAE Ministry of Economy will also be in attendance.
The DFM has initiated a multi-channel electronic communications awareness programme, including both local and pan-Arab radio and TV stations, to broadcast the listing ceremony. This is in addition to sending notifications to their investors via SMS messages.
DFM Company is the 50th company to list its shares on the market. The company is part of the 'investment and financial services' sector. The year 2006 was an eventful one for the Dubai Financial Market (DFM), capped by the bourse's own landmark Dh1.6 billion initial public offering (IPO). This IPO, the first of its kind in the region, was oversubscribed and generated more than Dh201 billion. Among the year's other highlights were a string of new listings by firms from across the region, bringing the total number of listed firms on the DFM to 49. Source
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