Dubai
Financial Market (DFM), the operator of the leading stock exchange
Stock Exchange
A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin
A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin
Read this Term in the Middle
East, has welcomed its first initial public offering (IPO) this year and the
listing of shares of Al Ansari Financial Services, the prominent payment and trading
services company in the United Arab Emirates (UAE). The shares began trading
under the symbol ALANSARI.
Al Ansari Financial
Services Becomes UAE's Publicly-Listed Company
According
to the DFM's press release, the IPO experienced substantial investor interest,
with the offering being oversubscribed 22 times. The tranche for Retail
Investors alone experienced an oversubscription of 44 times, leading to an
increase in its offer size from 5% to 7.5%, which corresponds to 56.25 million
ordinary shares out of the total offering.
The initial
public offering drew significant demand from qualified institutional investors
and UAE retail investors, with the total gross demand exceeding AED 12.7
billion ($3.45 billion). 750 million shares were sold, and the final share
price was established at AED 1.03 ($0.28), resulting in a market capitalization
of AED 7.7 billion ($2 billion) upon listing.
"The
listing of our shares on the Dubai Financial Market is a landmark moment for Al
Ansari Financial Services and one that will set us on a new and exciting
chapter in our 57-year history. We also believe that the success of this
transaction will further support the UAE's ambitions of deepening and
diversifying its capital markets by inspiring other family-owned businesses to
follow in our footsteps," Mohammad Ali Al Ansari, the Chairman of the
Group, commented.
Al Ansari ceremoniously rang the DFM market opening bell in honor of the listing. He was
accompanied by His Excellency Helal Al Marri, the Chairman of the DFM, Rashed Ali Al
Ansari, the Group CEO of Al Ansari Financial Services, and Hamed Ali, the CEO of DFM
and Nasdaq Dubai, as well as various other officials.
From Family-Owned Business
to DFM's Company
Established
in 1966 as a family-owned business, Al Ansari Financial Services has grown to
become a prominent integrated financial services group in the UAE. As the
foremost player in the outward personal remittance and retail foreign exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term
market, the company operates over 231 branches across the Emirates. The Group's
successful listing demonstrates the effectiveness of DFM's strategic plan to
improve and consolidate Dubai's capital markets infrastructure.
"It
sets an encouraging precedent for other family businesses to follow suit and
help boost economic growth and investor confidence in the UAE," Al Marri
commented.
According
to the company's website, the Al Ansari Financial Brokerage LLC subsidiary offers margin, mobile, online and short-term trading and access to global shares from
other jurisdictions.
On the day
of its debut, ALANSARI shares experienced a surge, reaching a 5% increase on
the DFM and touching the AED 1.24 mark. The opening price stood at AED 1.20, significantly rising from the AED 1.03 price during the IPO allocation.
DFM Opens
to Foreign Trading Partners
The UAE is
betting on the continued development of its financial markets, looking to
launch an 'oasis' for cryptocurrency companies, among other things. This week,
news of an expansion of regional operations was reported by CMC Markets, which
is looking to gain clients in the Middle East.
In
addition, the DFM is forging new co-operations with foreign trading technology
companies. One of them is Swissquote, which has gained access to the stock
exchange based in the United Arab Emirates. The Swiss company gained access
through the Direct Market Access (DMA) Route of GTN Middle East Financial
Services (GTNME), a regional and international institutional brokerage services
provider in the Middle East.
Last month,
Centroid Solutions, a technology provider in the trading industry, opened its
own trading gateway to the Middle Eastern financial markets with its
partnership with the DFM. The partnership allows the clients of Centroid to access
Dubai-listed securities and financial instruments and offer them locally and
globally.
FCA Stops WealthTek and RoboForex Increases Partner Commissions. Read today’s news nuggets!
Dubai
Financial Market (DFM), the operator of the leading stock exchange
Stock Exchange
A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin
A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin
Read this Term in the Middle
East, has welcomed its first initial public offering (IPO) this year and the
listing of shares of Al Ansari Financial Services, the prominent payment and trading
services company in the United Arab Emirates (UAE). The shares began trading
under the symbol ALANSARI.
Al Ansari Financial
Services Becomes UAE's Publicly-Listed Company
According
to the DFM's press release, the IPO experienced substantial investor interest,
with the offering being oversubscribed 22 times. The tranche for Retail
Investors alone experienced an oversubscription of 44 times, leading to an
increase in its offer size from 5% to 7.5%, which corresponds to 56.25 million
ordinary shares out of the total offering.
The initial
public offering drew significant demand from qualified institutional investors
and UAE retail investors, with the total gross demand exceeding AED 12.7
billion ($3.45 billion). 750 million shares were sold, and the final share
price was established at AED 1.03 ($0.28), resulting in a market capitalization
of AED 7.7 billion ($2 billion) upon listing.
"The
listing of our shares on the Dubai Financial Market is a landmark moment for Al
Ansari Financial Services and one that will set us on a new and exciting
chapter in our 57-year history. We also believe that the success of this
transaction will further support the UAE's ambitions of deepening and
diversifying its capital markets by inspiring other family-owned businesses to
follow in our footsteps," Mohammad Ali Al Ansari, the Chairman of the
Group, commented.
Al Ansari ceremoniously rang the DFM market opening bell in honor of the listing. He was
accompanied by His Excellency Helal Al Marri, the Chairman of the DFM, Rashed Ali Al
Ansari, the Group CEO of Al Ansari Financial Services, and Hamed Ali, the CEO of DFM
and Nasdaq Dubai, as well as various other officials.
From Family-Owned Business
to DFM's Company
Established
in 1966 as a family-owned business, Al Ansari Financial Services has grown to
become a prominent integrated financial services group in the UAE. As the
foremost player in the outward personal remittance and retail foreign exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term
market, the company operates over 231 branches across the Emirates. The Group's
successful listing demonstrates the effectiveness of DFM's strategic plan to
improve and consolidate Dubai's capital markets infrastructure.
"It
sets an encouraging precedent for other family businesses to follow suit and
help boost economic growth and investor confidence in the UAE," Al Marri
commented.
According
to the company's website, the Al Ansari Financial Brokerage LLC subsidiary offers margin, mobile, online and short-term trading and access to global shares from
other jurisdictions.
On the day
of its debut, ALANSARI shares experienced a surge, reaching a 5% increase on
the DFM and touching the AED 1.24 mark. The opening price stood at AED 1.20, significantly rising from the AED 1.03 price during the IPO allocation.
DFM Opens
to Foreign Trading Partners
The UAE is
betting on the continued development of its financial markets, looking to
launch an 'oasis' for cryptocurrency companies, among other things. This week,
news of an expansion of regional operations was reported by CMC Markets, which
is looking to gain clients in the Middle East.
In
addition, the DFM is forging new co-operations with foreign trading technology
companies. One of them is Swissquote, which has gained access to the stock
exchange based in the United Arab Emirates. The Swiss company gained access
through the Direct Market Access (DMA) Route of GTN Middle East Financial
Services (GTNME), a regional and international institutional brokerage services
provider in the Middle East.
Last month,
Centroid Solutions, a technology provider in the trading industry, opened its
own trading gateway to the Middle Eastern financial markets with its
partnership with the DFM. The partnership allows the clients of Centroid to access
Dubai-listed securities and financial instruments and offer them locally and
globally.
FCA Stops WealthTek and RoboForex Increases Partner Commissions. Read today’s news nuggets!
