Al Firdous Holdings makes debut on DFM

The Dubai Financial Market (DFM) has announced the listing of Al Firdous Holdings PJSC, incorporated in Dubai.

By A Staff Reporter

Published: Tue 6 Nov 2007, 9:24 AM

Last updated: Thu 24 Nov 2022, 10:19 AM

Company shares began trading yesterday under the trading symbol "ALFIRDOUS," which will appear on DFM screens, trading systems and publications.

The listing of ordinary shares of Al Firdous Holdings PJSC was finalised and approved by the DFM in collaboration with the Emirates Securities and Commodities Authority.

Ownership of the company’s shares is available to UAE nationals up to 100 per cent, while GCC nationals and foreigners are allowed to own company shares at a maximum of 49 per cent.

Shaikh Khaled bin Zayed bin Saqr Al Nehayan, Chairman of Al Firdous PJSC, and Essa Kazim, Chairman of DFM, attended the listing ceremony.

The company’s authorised capital and paid-up capital is Dh600 million. The company has issued 600 million shares, with each share valued at a par value of Dh1.

Essa Kazim, Chairman of DFM, said: “DFM’s strategy is based on offering diversified investment options to investors, and today’s listing comes in line with this strategy. Al Firdous Holdings PJSC is the 56th company to list its shares on the DFM. DFM has been able to attract blue-chip companies such as Al Firdous Holdings to list its shares, and we believe many more companies will follow soon.”

Shaikh Khaled said, “The listing marks a milestone in the company’s growth as it coincides with expansion plans that are already underway. Al Firdous is now positioned to move onto the next phase of growth. This is indeed a defining moment for Al Firdous. We are committed to making the company a favoured stock for the investor community.”

Al Firdous Holdings was founded in June 1998 as a Public Joint Stock Company by Federal Law No. (8) of 1984 concerning Commercial Companies and the decision of the competent authorities in Dubai.