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Crushers GC and Dubai-based Anirban Lahiri claim team title at Bolingbrook Golf Club in Illinois
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Dubai Financial Market expects profit up 50 pct
LONDON - Dubai Financial Market Co. DFM.DU (DFM) said on Tuesday it would earn as much as 1.2 billion dirhams ($327 million) this year.
The bourse, which went public in a $435 million November offering, was the Middle East’s most actively traded exchange in terms of both volumes and values, with over 580 million shares exchanging hands for over 1.7 billion dirhams.
Chairman Essa Abdulfattah Kazim expects more new offerings to come later this year during a media briefing in London.
A new regulation, to be introduced in the second half of the year, would allow a lower minimum public float of 30 percent, down from the current 55 percent, on new offerings. This is likely to encourage more companies to seek listings.
Dubai Financial Market made 563 million dirhams in the first quarter this year. It did not give a year-earlier figure.
DFM shares have risen 16 percent this month.
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