During Ramadan, the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) witnessed a total of nine significant direct transactions involving 305.7 million shares, amounting to AED1.6 billion ($435.7 million).
According to market data, the ADX recorded five substantial direct deals, encompassing 243.4 million shares valued at AED683.3 million ($186 million). These included a transaction worth AED509.8 million, involving 27.7 million e& shares at a price of AED18.34 per share. Additionally, there was a deal worth AED37.8 million on 5.2 million shares of Emirates Insurance Company, priced at AED7.2 per share. Furthermore, three transactions on Abu Dhabi National Hotels Company’s stock, valued at over AED135.7 million, were executed on 210.4 million shares, with a price of AED0.645 per share.
Read more: DFM achieves highest market cap since 2015 with $1 billion surge
Four major deals
Meanwhile, the DFM observed four significant direct deals, encompassing 62.2 million shares worth AED933.9 million ($254.3 million). Among these transactions, there was a deal worth AED782.1 million on 3.9 million Mashreq shares, as well as a transaction valued at AED100.5 million on 5.7 million shares of Emirates NBD. Additionally, two deals were executed on the stock of GFH Financial Group, with values of AED28.7 million and AED22.5 million, involving 30 million shares and 22.6 million shares, respectively.
Noteworthy that direct large transactions occur outside the order book and do not impact the closing price of a company’s shares or the price index. Moreover, they have no effect on the highest and lowest prices recorded during the trading session or over the previous 52 weeks.
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