EFG Hermes advises on $204mln IPO of Dubai-based Taaleem
UAE – EFG Hermes, a leading investment bank franchise, said its Investment Banking division completed advisory on the $204 million initial public offering (IPO) of Dubai education provider Taaleem. Taaleem has been listed on the Dubai Financial Market (DFM). The Firm acted as Joint Lead Arranger and Joint Global Coordinator on the transaction. Taaleem issued […]
AD Ports Group acquires 80% of GFS for $790mln
Abu Dhabi’s AD Ports Group has announced an AED 2.9 billion ($790 million) acquisition of an 80% stake in Dubai-based Global Feeder Shipping (GFS), implying a 100% enterprise value of AED 3.7 billion ($1 billion). The ports company said the acquisition of GFS had been fully funded through a new acquisition loan. “This earnings and […]
Dubai’s Empower set to raise $362mln in IPO
Dubai government–backed district cooling company Empower, which is planning to sell 10% stake in an IPO, has set the price range at between 1.31 and 1.33 dirhams ($0.35 and $0.36) per share potentially raising a maximum of $362 million. Subscriptions are set to open on October 31, with Dubai Electricity & Water Authority (DEWA) and […]
ADNOC ‘in talks’ to acquire or invest in energy trader Gunvor Group – report
Abu Dhabi National Oil Company (ADNOC) is reportedly looking for a partial or full acquisition of Geneva-based Gunvor Group, according to a Bloomberg report. The state-run oil producer has conducted “early-stage talks” about the potential acquisition, Bloomberg reported, citing sources who asked not to be named. Gunvor is one of the world’s largest independent commodities […]
Dubai’s Salik sets IPO offer price at $0.54
Dubai’s toll-gate operator Salik on Tuesday announced the final price for its IPO at AED2 ($0.54) per share, and could potentially raise AED3 billion in the float, an advertisement carried in the local media showed. The IPO, which opens for subscription today, will offer 1.5 billion shares, which represents 20% of the company’s equity capital. Salik, […]
Mubadala raises price to acquire control of Brazil’s Burger King brand owner
SAO PAULO – Brazil’s Zamp SA said on Monday that Mubadala Capital LLC raised the price of a tender offer to acquire control of the company to 1.03 billion reais ($200.91 million). Mubadala’s new offer is for 8.31 reais ($1.62) per share, from the previous price of 7.55 reais per share, which had prompted the board […]
ADX market data goes live on TradingView platform
The Abu Dhabi Securities Exchange (ADX) has signed a new data-sharing partnership with TradingView, a US-based leading financial information portal, to help attract a new generation of global traders and investors to the exchange. As part of the agreement, ADX market data is now live on TradingView’s platform and accessible by a large base […]
Dewa to organise Wetex and DSS 2022 in September
The 24th Water, Energy, Technology and Environment Exhibition (Wetex) and Dubai Solar Show (DSS) consolidate Dubai’s position as a global platform and a role model for the latest technologies for water, energy and the environment. The show, from September 27 to 29 at Dubai’s World Trade Centre, also promotes the Dubai’s position as […]
Abu Dhabi Exchange records highest trading value in Arab region for May
The Abu Dhabi Securities Exchange (ADX) has recorded the highest increase in trading value among the Arab financial markets in May at 292.64 percent while the Palestine Exchange topped the list in terms of trade volume increase, according to Arab Monetary Fund (AMF). The AMF in its monthly newsletter covering Arab financial markets […]
Abu Dhabi’s Multiply Group added to FTSE Global Equity Index Series
Abu Dhabi-based Multiply Group, a technology-focused holding company, has been added to the FTSE Global Equity Index Series (FTSE GEIS) Mid Cap Index in its June quarterly review. The inclusion, which comes into effect on 20 June, will boost visibility and add to shareholder diversity, the company said in a statement on Monday. FTSE GEIS […]