Suspension of trading on Emaar Malls shares permanently
The Dubai Financial Market has announced that trading in the shares of "Emaar Malls" company has been permanently suspended, as of today, in order to complete the merger procedures with "Emaar Properties" company.
The listing of Emaar Malls will be delisted from the Dubai Financial Market and the merger with Emaar Properties will be activated at the end of the trading session on November 21, 2021.
It is noteworthy that the general assembly of Emaar Properties and Emaar Malls agreed, in October, on the decision to merge between them, by issuing and allocating 0.51 new shares in Emaar Properties for every one share of Emaar Malls shares (excluding Shares registered in the name of Emaar Properties).
This will be in accordance with the capital increase of Emaar Properties to 8179.7 million dirhams on November 21, 2021.
Emaar Malls' profits increased by 83 percent during the first nine months of 2021, compared to the same period in 2020.
The company stated that its net profit amounted to 1.07 billion dirhams, compared to 586 million dirhams in the same period of 2020.
The company indicated that it achieved revenues of 3.19 billion dirhams, a growth of 28% during the first nine months of 2021, compared to the same period last year.
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