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Today, the Dubai Financial Market is witnessing the fourth listing this year, with the inclusion of the shares of Salik, after Dubai Electricity and Water Authority (DEWA), TECOM and Union Coop, as part of the strategy for the capital markets and exchanges of the Development Committee of the emirate to aim to double the value of the financial markets to 3 trillion dirhams.
The listings support the development of the financial market sector and provide it with innovative tools and solutions, thereby strengthening Dubai’s position and competitiveness as one of the most important and largest financial centers in the region and the world.
Salik has completed the preparation of the register of subscription orders and the public subscription process for its initial public offering on the Dubai Financial Market. The scope of the offering after the increase amounted to 1,867,500,000 ordinary shares, corresponding to 24.9% of the total issued shares in the capital, with a share price of 2 dirhams per share. The offering witnessed high demand and the total demand for the public offering amounted to 184.2 billion dirhams, which means it was oversubscribed by about 49 times for all segments.
The first listing on the Dubai Market was for the Dubai Electricity and Water Authority (DEWA) last April, to become the largest company listed on the market by market capitalization, the second largest in the region and the largest ever in the history of the UAE capital markets.
While Tecom Group is considered the second IPO following the huge success of the offering, which witnessed the highest level of coverage in the history of public offerings in the Dubai market, the offering attracted strong demand from qualified institutional investors underwriting and underwriting. of individuals in the UAE. Dubai Market welcomed the listing of Union Coop shares last July, as the first consumer cooperative in the country to take this step.
“Salik” .. Today is the fourth listing in Dubai Financial Market 2022
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