Residents with any information have been urged to contact the concerned authority
emergencies6 hours ago
Property developer Fam Holding plans to list its shares on the Abu Dhabi Securities Exchange (ADX) Second Market.
“We are pleased to proceed with the procedures for listing the company in the ADX Second Market, as ‘FAM Holding’. The company has been converted into a private joint-stock company with a capital of Dh50 million after previously receiving approval from the Abu Dhabi Securities Exchange. We hope to receive the final approval shortly,” said Dr Faisal Ali Mousa, chairman of Fam Holding.
Fam Holding said it has an investment portfolio worth Dh2 billion and 5,750 residential apartments in the UAE. It recently expanded its operations to northern emirates covering Ajman and Ras Al Khaimah.
Mohammed Al Shorafa, chairman of the Abu Dhabi Securities Exchange, said during the World Government Summit last week that the Abu Dhabi stock market cap stands at about Dh1.6 trillion.
“We have another 15 companies in the pipeline. We created the new IPO fund also to assist family companies,” he said, adding that the UAE government is very progressive which helps bring companies to come UAE and list on the local markets.
ALSO READ:
Thomas Mathew, equity strategist at Kuwait-based Kamco Invest, has said the outlook for 2022 is strong with a good number of IPOs are lined up for the Saudi and UAE markets this year, including 10 announced by the Dubai government.
Similarly, the Dubai Electricity and Water Authority (Dewa) IPO increased the size of its ongoing public offering after an overwhelming response and oversubscription from retail and institutional investors.
"With the UAE leading the list of countries recovering from the pandemic, the local economy has shown significant growth over the last 18 months. It is expected that this growth will continue to increase over the next few years fuelled by the growing
momentum of non-oil industries such as real estate, where Fam already has a substantial presence,” said Dr Faisal Ali Mousa.
-waheedabbas@khaleejtimes.com
Residents with any information have been urged to contact the concerned authority
emergencies6 hours ago
Northeastern University in Boston says the action was taken after some protesters resorted to virulent anti-Semitic slurs
world6 hours ago
The church has been built on 4.37 acres of land, and stands opposite the BAPS Hindu temple
uae6 hours ago
A detailed guide on where to apply, the steps involved, and criteria for eligibility
uae7 hours ago
The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
mena7 hours ago
Photonics is the study of light and has several applications including LED, VR, holograms, high-speed internet and solar panels among other things
uae7 hours ago
A delegation from Egypt arrived in Israel on Friday hoping to revive the truce negotiations
mena7 hours ago
The decision aims to protect the safety and security of pilgrims
gulf8 hours ago