Local stock liquidity exceeds two billion dirhams at the beginning of the week's sessions

The performance of the UAE financial markets declined at the end of today’s session, the first session of the week, coinciding with the start of the subscription period for the shares of “Americana International Restaurants” in the Saudi market and the Abu Dhabi Stock Exchange. During the implementation of 27.18 thousand transactions.

In detail, the Dubai Financial Market index fell by 0.4% at the level of 3394 points, with transactions worth a total of 283 million dirhams.

The share of "Emaar Properties" decreased by 0.9% to 6.31 dirhams, with transactions exceeding 14 million shares,

Shares of "Dubai Islamic" decreased by 1% at 5.87 dirhams, with transactions of nearly 6 million shares, and "Emirates NBD" share decreased by 0.8% at 13.15 dirhams, and transactions of nearly two million shares.

While the "Dubai Financial Market" share rose by 4.4% to 1.66 dirhams, with trading of nearly 35 million shares.

The Abu Dhabi Securities Exchange Index also decreased by 0.07% by 8 points at the level of 10598 points, with transactions worth a total of 1.7 billion dirhams.

The "Eshraq Investments" share declined by 2.7% at 0.513 dirhams, with transactions of nearly 21 million shares, and "Taqqa" share decreased by 0.5% at 3.87 dirhams, with transactions of nearly 22 million shares.

While the "Multiplay" share was the most traded stock during today's session, as it rose by 1.9% to 4.91 dirhams, and transactions exceeded 41 million shares.

The performance of the local markets today coincided with the start of the subscription period for the initial public offering of “Americana” by offering 30% of its capital, equivalent to 2527.09 million shares, through a dual and simultaneous initial public offering on the Abu Dhabi Stock Exchange and the Saudi market. trade"

The company limited the price range for the public offering of 2527.09 million shares of its shares between 2.50 dirhams to 2.62 dirhams per share.

The size of the initial public offering, if all the shares are sold, will range from 6.32 billion dirhams to 6.62 billion dirhams ($1.72 billion and $1.80 billion).

The market value of the shares will range from 21.06 billion dirhams to 22.07 billion dirhams ($ 5.73 billion to $ 6.01 billion).

The final offer price will be determined through the book-building process starting today, and is expected to be announced on November 23, 2022.

The subscription period for the individual segment ends on Monday, November 21, while it ends on November 22 for the eligible institutional segment.

It is expected that shares will be traded on the Abu Dhabi Securities Exchange on December 6, 2022 with the trading symbol “AMR”.   

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