Markets

UAE’s Burjeel raises AED 1.1 mn from IPO

Oversubscribed offering totaled $8.7 bn

Global Financial Markets in Brief September 28

US dollar achieved its best weekly and monthly performance since April

PIF-owned SEIC acquires 34% stake in Egypt’s B.TECH for $150 mn

B.TECH expects to increase its sales to EGP15 bn in 2023

Saudi’s Marafiq gears up for $1.2 bn IPO

Offering will correspond to a 29.24% of the company's shares on Tadawul

Gulf Investment House makes market debut on ADX   

has a market capitalization of AED 1.96 billion

Egypt’s pound plummets to record low against dollar

CBE decided lately to keep key interest rates unchanged

Bitcoin surpasses $20K for the first time in a week

Ether rose 4 percent to a one-week high of $1,389

Egypt seeks $6 bn from sale of state firms by June 2023

First tranche of the offerings to be announced within four weeks

Global Financial Markets in Brief Week September 19

Investors worried about interest and inflation are affected by growing fears of a recession

Burjeel decides to offer 11% of its shares in Abu Dhabi market

The first privately owned company to go public in the UAE

Salik raises over $1 bn from IPO

Offering more than 49 times oversubscribed

Salik’s IPO: Individual subscription period set to close today

The qualified investor subscription period will expire tomorrow

Global Financial Markets in Brief September 13

Short-term bond yields continue to rise with anticipation of the Fed's decision

UAE’s Tabreed is latest listed firm to allow 100% foreign ownership

Company amended Articles of Association to remove ownership cap

Dubai’s Salik IPO kicks off, aims to raise $800 mn

After the offering, Dubai government will retain 80% of the company

Euro climbs to three-week high

On Ukraine gains, rate hike forecasts

Japanese Yen hits new lows against US dollar

Reaching a level last seen in August 1998

UAE stocks record AED 10 bn of gains

Gains were notable in the realty, banking, and telecom sectors

Central banks’ appetite for gold remained robust in July

The Qatar Central Bank was the largest buyer

Global Financial Markets in Brief Week August 28

Labor market data indicators raised expectations with a hardline FED approach