The “Education” stock grabs 22% of the “market” liquidity on the first day of its listing
The "new listings" raise the market value of "Dubai Financial" by 29%, to 580 billion dirhams
The Chairman of the Board of Directors of "Taleem" rings the opening bell for trading in the Dubai Financial Market.
From the source
Yesterday, the Dubai Financial Market index closed, up by 0.51%, at 3304.39 points. The session witnessed an increase in the shares of nine companies, while the shares of 13 companies decreased, and the shares of nine companies remained unchanged.
The Dubai Financial Market achieved a 29% growth in the market value, to 579.7 billion dirhams, as a result of the new listings and the improvement in the performance of the listed shares, and the total trading value increased by 33% during the year 2022 to date, to reach 82 billion dirhams.
The Dubai Financial Market consolidated its gains at the end of yesterday’s trading, and its market capitalization gained about 3.5 billion dirhams, coinciding with the listing of the “Education Holding” group share, while the Abu Dhabi Market index “Fadex 15” closed at 10368.79 points, while the FTSE Abu Dhabi General Market index reached “Fadji.” To 10392.3 points, with liquidity exceeding 1.44 billion dirhams.
The market capital of listed shares reached 3.23 trillion dirhams, distributed by 2.65 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange, and 579.7 billion dirhams for shares listed on the Dubai Financial Market.
Local stocks attracted more than 1.83 billion dirhams of liquidity, distributed by 1.44 billion dirhams in the Abu Dhabi market, and 394.8 million dirhams in the Dubai market, and about 408 million shares were traded through the implementation of about 24.7 thousand transactions.
Yesterday, the Dubai Financial Market welcomed the listing of Taaleem Holding Group shares (Taleem).
This new listing crowns a year full of successes in terms of public offering and listing activities on the Dubai Financial Market, which included the shares of five leading government and private companies, which reflects the effectiveness of the strategic plan for the development of financial markets and the excellence and integration of the infrastructure of financial markets in Dubai.
The share of the “Taleem Holding” group topped the trading on the Dubai Financial Market on the first day of its trading, with a value of 86.89 million dirhams, equivalent to 22% of the total trading value in the market, amounting to 394.86 million dirhams, while the volume of trading on the share amounted to about 31.38 million shares, constituting 17.12% of the market's trading volume, which amounted to 183.25 million shares.
And to celebrate the listing, the Chairman of the Board of Directors of “Teaching”, Khaled Al Tayer, rang the opening bell for trading in the Dubai Financial Market, in the presence of the Chairman of the Board of Directors of the Market, Hilal Al-Marri, and CEO of the “Teaching” Group, Alan Williamson, and CEO of the Dubai Financial Market and Nasdaq Dubai, Hamid Ali, in addition to a number of prominent officials.
The company's shares began trading under the symbol "TAALEEM" after completing the public offering of its shares, which raised 750 million dirhams, bringing its market value upon listing to three billion dirhams, and the share price in the public offering reached three dirhams.
Commenting on the success of the company’s listing, Khaled Al Tayer said: “The listing of (Taleem) company on the Dubai Financial Market represents a turning point in the (Taleem) company’s march, as today a new phase begins as a public joint stock company.
It reflects the great interest of local and international investors in the initial public offering, which exceeded the target level 18 times, with a total of 13.7 billion dirhams.
Investors' strong conviction of the success story (education) and the capital markets in Dubai.
For his part, Hilal Al-Marri said: “The listing of (Taleem) company reflects the continuous successes of the ambitious strategy to develop financial markets in Dubai, led by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.
The integration of the infrastructure and organizational structures in the Dubai Financial Market, in accordance with best practices, has contributed to the rapid and efficient completion of many initiatives within that strategy, foremost of which are initial public offerings.
Moreover, the market has expanded its diversification of asset classes by trading oil futures contracts and more stock futures contracts along with stocks, real estate investment funds and exchange traded funds, thus strengthening its position among the most prominent regional markets in terms of diversification of investment opportunities and asset classes.
In our estimation, these various development initiatives position the market in an ideal position to achieve sustainable growth.”
In turn, Alan Williamson said: “The successful listing of Taaleem on the Dubai Financial Market is a matter of great pride for us.
The strong investment demand witnessed by the IPO is the best evidence of the excellence of our investment journey and our possession of a vital roadmap for achieving future growth.
We will benefit from the proceeds of the subscription amounting to 750 million dirhams to expand the scope of our educational services by launching four new schools in prime locations in Dubai and Abu Dhabi, which enables us to educate and stimulate the energies of the next generation of students.”
In the same context, Hamed Ali said: “We welcome the listing of the (Taleem) group shares in the Dubai Financial Market, in a step that reflects the attractiveness of the market and its ability to provide world-class financial market solutions to both government and private companies.
The new listings, including the listing of (Taleem) Company, which operates within one of the most prominent and fastest growing sectors in Dubai, the educational services sector, contribute to diversifying investment opportunities and adding more depth to the market.
The market also witnessed remarkable momentum in terms of attracting new investors and attracting leading international companies in the fields of trading, public clearing and market making, which enhances our efforts to attract more investments, increase levels of liquidity and stimulate trading.
It is noteworthy that the Dubai Financial Market did not apply the approved price limits for stock movements on the first day of trading shares of «Education», provided that they are applied on the day following the listing.
• Local stocks attracted more than 1.83 billion dirhams of liquidity.
• The market capital of shares reached 3.23 trillion dirhams.
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