عربي English
HomeAbout UsMembersStatisticsPublicationsNewsEventsGalleryContact UsMembers Area
ADI 5124.722 (AED)  -0.61% | AMGNRLX 1817.11 (JOD)  0.05% | BAX 1160.94 (BHD)  1.35% | BLSI 1207.903 (USD)  0.06% | MASI 10564.6172 (MAD)  -0.15% | DFMGI 3274.06 (AED)  -0.15% | EGX30 10688.16 (EGP)  4.52% | ISX 72.01 (IQD)  0% | KWSE 5275.04 (KWD)  -0.18% | MSI 6317.66 (OMR)  -0.55% | PLE 483.41 (JOD)  -0.01% | QE 12282.17 (QAR)  -0.42% | TASI 9717.9 (SAR)  -0.65% | TUNINDEX 5585.19 (TND)  0.45% | SPAFEUP 64.11 (USD)  -0.02%
Source: Thomson Reuters.   Last updated on Sep 20, 2019 at 19:10PM (UTC).   Delayed by at least 15 minutes.
Dubai Financial Market Resumes Trading on Dubai Development Company Shares as of Thursday 19 November 2015
Nov 17, 2015
Based on the approval of the Securities and Commodities Authority (SCA), Dubai Financial Market (DFM) would like to notify its valued investors that trading on the shares of Dubai Development Company “PJSC” will be resumed as of Thursday, November 19, 2015 trading session. This step follows the completion of an acquisition process that enabled a group of investors represented by Al Ramz Capital “LLC”, to acquire 8,242,025 shares (about 82.4% of the total capital) of the Dubai Development Company of AED 10 million divided into 10 million shares.
 
The acquisition transaction has been completed on Monday, November 2, 2015 at a net price of 4.55 dirhams per share, excluding any commissions, with an increase of 237% 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 AED 4.55 per share will be applied as the opening price of DDC shares and the fluctuation band of 15% up and 10% 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 “LLC” to the shareholders of the Dubai Development Company “PJSC” has ended on Thursday, October 29, 2015.

Dubai-Financial-Market-Logo.jpg